https://www.taxtmi.com/caselaws?id=38926 A reassessment saving provision applies only where the earlier assessment set aside corresponds to the assessment later made; an assessment against an individual could not save a later assessment against a Hindu undivided family. For limitation, concealment cannot be inferred merely because the assessee's explanation is rejected; the department must produce independent material showing deliberate concealment of income. Here, the revised return corrected the omitted property income before detection, and the alleged investment disclosure was not required by the return form. The case did not fall within the concealment penalty provision, so the normal limitation period applied and the assessment was time-barred. en-us Fri, 11 Jul 1975 00:00:00 +0530 Sat, 10 Apr 2010 13:42:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38926 A reassessment saving provision applies only where the earlier assessment set aside corresponds to the assessment later made; an assessment against an individual could not save a later assessment against a Hindu undivided family. For limitation, concealment cannot be inferred merely because the assessee's explanation is rejected; the department must produce independent material showing deliberate concealment of income. Here, the revised return corrected the omitted property income before detection, and the alleged investment disclosure was not required by the return form. The case did not fall within the concealment penalty provision, so the normal limitation period applied and the assessment was time-barred. Case-Laws Income Tax Fri, 11 Jul 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38926