https://www.taxtmi.com/caselaws?id=800343 Reassessment requires income to have escaped assessment. Where a company validly adopted a 15-month first financial year under the Companies Act, 2013, and disclosed the entire income for that period in its assessment-year return, including the income targeted in reassessment proceedings, no income remained undisclosed or escaped. Reassessment is therefore impermissible where the proposed addition concerns income already returned for the valid first financial year. en-us Fri, 28 Aug 2026 00:00:00 +0530 Mon, 05 Oct 2026 08:13:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800343 Reassessment requires income to have escaped assessment. Where a company validly adopted a 15-month first financial year under the Companies Act, 2013, and disclosed the entire income for that period in its assessment-year return, including the income targeted in reassessment proceedings, no income remained undisclosed or escaped. Reassessment is therefore impermissible where the proposed addition concerns income already returned for the valid first financial year. Case-Laws Income Tax Fri, 28 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800343