https://www.taxtmi.com/caselaws?id=49569 Deemed income that a statute attributes to shareholders (Section 23A) but which was not included in the original return constitutes income that has escaped assessment and may be reassessed under the reassessment provision, with the place of assessment determined under the statutory rule for place of assessment; and a provision deeming undistributed corporate profits to be distributed to prevent tax evasion falls within the legislative competence to tax income and ancillary anti-evasion measures, notwithstanding incidental hardship to some shareholders. en-us Fri, 02 Sep 1960 00:00:00 +0530 Mon, 03 Nov 2025 14:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49569 Deemed income that a statute attributes to shareholders (Section 23A) but which was not included in the original return constitutes income that has escaped assessment and may be reassessed under the reassessment provision, with the place of assessment determined under the statutory rule for place of assessment; and a provision deeming undistributed corporate profits to be distributed to prevent tax evasion falls within the legislative competence to tax income and ancillary anti-evasion measures, notwithstanding incidental hardship to some shareholders. Case-Laws Income Tax Fri, 02 Sep 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49569