Substitution of new section for section 147.

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..... has escaped assessment for any assessment year, the Assessing Officer may, subject to the provisions of sections 148 to 153, assess or reassess such income or recompute the loss or the depreciation allowance or any other allowance or deduction for such assessment year (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year). Explanation.- For the pu .....

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..... le to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section, or recompute the loss or the depreciation allowance or any other allowance, as the case may be, for such assessment year. This amendment will take effect from 1st April, 2021. - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulatio .....

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