https://www.taxtmi.com/caselaws?id=289943 Notional income created by an order under Section 23A must be assessed by separate assessment proceedings under Section 34, and such assessment requires a valid notice issued under the applicable assessment provision; consequently the notional income cannot be taxed except through those proceedings. The statutory limitation for service of that notice is four years measured from the end of the assessment year in which the income escaped assessment, and a notice served after that period is invalid; applying that rule the notice dated 1 April 1954 for the 1949-50 year was time barred and ineffective. en-us Wed, 19 Mar 1958 00:00:00 +0530 Mon, 31 Aug 2020 15:46:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289943 Notional income created by an order under Section 23A must be assessed by separate assessment proceedings under Section 34, and such assessment requires a valid notice issued under the applicable assessment provision; consequently the notional income cannot be taxed except through those proceedings. The statutory limitation for service of that notice is four years measured from the end of the assessment year in which the income escaped assessment, and a notice served after that period is invalid; applying that rule the notice dated 1 April 1954 for the 1949-50 year was time barred and ineffective. Case-Laws Income Tax Wed, 19 Mar 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289943