https://www.taxtmi.com/caselaws?id=39339 Section 35 permits reassessment where income has escaped assessment, including where omission emerges from material already on record. Agricultural income must be computed under the assessee's regularly employed accounting method; a book pattern reflecting produce-in-kind and other non-cash entries is not a true cash system. Opening stock and closing stock of paddy are accounting balances and do not, by themselves, constitute taxable agricultural income of the relevant year. Advances, loans repaid, and produce entrusted for storage may be excluded if the assessee proves they are not income of that year. en-us Thu, 27 Nov 1969 00:00:00 +0530 Thu, 15 Apr 2010 16:58:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39339 Section 35 permits reassessment where income has escaped assessment, including where omission emerges from material already on record. Agricultural income must be computed under the assessee's regularly employed accounting method; a book pattern reflecting produce-in-kind and other non-cash entries is not a true cash system. Opening stock and closing stock of paddy are accounting balances and do not, by themselves, constitute taxable agricultural income of the relevant year. Advances, loans repaid, and produce entrusted for storage may be excluded if the assessee proves they are not income of that year. Case-Laws Income Tax Thu, 27 Nov 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39339