TMI BlogAssessment or Reassessment of Incomes escaping assessment - Section 147X X X X Extracts X X X X X X X X Extracts X X X X ..... ect to the provision of section 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g matters which are the subject-matter of appeal, reference or revision. 5. Deemed case of escapement: [Amended by Finance 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 th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ance has been allowed to the assessee, or The income has been assessed at a lower rate. Where a return of income has not been furnished by assessee or a return of income has been furnished by him on the basis of information or document 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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