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    <title>Substitution of new section for section 147.</title>
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    <description>The substituted provision empowers the Assessing Officer to assess or reassess any income chargeable to tax that has escaped assessment and to recompute loss, depreciation or other allowances for the relevant year; it further permits assessment or reassessment of issues that come to the Assessing Officer&#039;s notice during such proceedings even where compliance with a separate notice-related procedural requirement has not occurred.</description>
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      <title>Substitution of new section for section 147.</title>
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      <description>The substituted provision empowers the Assessing Officer to assess or reassess any income chargeable to tax that has escaped assessment and to recompute loss, depreciation or other allowances for the relevant year; it further permits assessment or reassessment of issues that come to the Assessing Officer&#039;s notice during such proceedings even where compliance with a separate notice-related procedural requirement has not occurred.</description>
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