https://www.taxtmi.com/caselaws?id=49684 Section 15 permits reassessment where 'definite information' shows profits were subject to excessive relief; information arising after the chargeable period that proves assets remained in use negates eligibility for relief under the forward looking relief rule and thus renders earlier relief excessive. The natural meaning of 'discovers' includes subsequent events that alter entitlement, so reassessments based on such post period facts are authorised and valid, producing operative corrective assessments in favour of the revenue. en-us Thu, 28 Oct 1954 00:00:00 +0530 Tue, 09 Sep 2014 09:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49684 Section 15 permits reassessment where 'definite information' shows profits were subject to excessive relief; information arising after the chargeable period that proves assets remained in use negates eligibility for relief under the forward looking relief rule and thus renders earlier relief excessive. The natural meaning of 'discovers' includes subsequent events that alter entitlement, so reassessments based on such post period facts are authorised and valid, producing operative corrective assessments in favour of the revenue. Case-Laws Income Tax Thu, 28 Oct 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49684