Important aspect related to Assessment - Section 152

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....ncome not escaped assessment (Respective year tax rate shall apply). [ Section 152(1) ] Dropping of Assessment Proceeding in certain cases Proceedings once initiated u/s 147 may be dropped by AO, If assessee satisfies him that - * Where an assessment is reopened under section 147, the assessee may claim that the proceedings under section 147 shall be dropped on his showing that he had been ass....