TMI Blog1960 (2) TMI 61X X X X Extracts X X X X X X X X Extracts X X X X ..... hile the proceedings which had commenced with the issue of the first such notice of May, 1953, were yet pending and had not been completed? The facts which gave rise to the reference are these: Messrs. Atma Ram Bindra Ban, the assessee, is a Hindu undivided family and the assessment in question was revised assessment for the year 1947-48, made in terms of section 34 of the Indian Income-tax Act. The original assessment for this year was made on 8th August, 1951. Subsequently, on the examination of the books of the assessee in certain other proceedings it transpired that certain cash credits amounting to ₹ 37,880 entered in the assessee's personal account had escaped consideration in the original assessment. A notice under sub-s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, or excessive loss or depreciation allowance has been computed, or (b) notwithstanding that there has been no omission or failure as mentioned in clause (a) on the part of the assessee, the Income-tax Officer has in consequence of information in his possession reason to believe that income, profits or gains chargeable to income-tax have escaped assessment for any year, or have been under-assessed, or assessed at too low a rate, or have been made the subject of excessive relief under this Act, or that excessive loss or depreciation allowance has been computed, he may in cases falling under clause (a) at any time within eight years and in cases falling under clause (b) at any time within four years of the end of that year, serve on t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncluded and taken into consideration in the proceedings started on a notice under section 34, where is then the bar to do the same after issue of a fresh notice, which certainly is to the benefit of the assessee? The first proviso to sub-section (3) of section 34, on which reliance is being placed on behalf of the assessee, refers merely to the time during which the assessment or reassessment had to be made in pursuance of a notice under the section and has no relevancy to the point in question. In In re Lachhiram Basantlal [1931] I.L.R. 58 Cal. 909 the decision relied upon by the counsel, it was held that income could not be said to have escaped assessment if proceedings for the assessment of the assessee's income were still pending ..... X X X X Extracts X X X X X X X X Extracts X X X X
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