TaxTMI 
TaxTMI 
Assessment or Reassessment of Incomes escaping assessment - Section 147
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.... 148 to section 153: * assess or reassess such income which has escaped assessment * recomputed the loss or the depreciation allowance or any other allowance, * Once an assessment has been reopened, any other income which has escaped assessment and which comes to the notice of the Assessing Officer subsequently in the course of the proceeding u/s 147 can also be included in the assessment. ....
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....nce Act, 2021] * Where no return of income has been furnished by the assessee and no assessment has been made although: * His total income; or * The total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax; * Where a return of income has been furnished by the assessee but ....
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....ocument received from the prescribed IT Authority, u/s 133C(2), it is noticed by AO that the income of assessee exceeds maximum amount not chargeable to tax, or, as the case may be, the assessee has understated the income or has claimed excessive loss, deduction or relief in the return. * Where a person is found to have any asset (including financial interest in any entity) located outside India....