CBDT Circular on Assessment reopened on the ground of piecemeal assessment – Whether there is escapement of income – Whether deferred assessment is discovery of escaped assessment and whether section 34 of 1922 Act applicable in such case

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SECTION 147 l INCOME ESCAPING ASSESSMENT Assessment reopened on the ground of piecemeal assessment – Whether there is escapement of income – Whether deferred assessment is discovery of escaped assessment and whether section 34 of 1922 Act applicable in such case Attention is invited to the judgment of the Madras High Court in the case of T. Manavedan Tirumalpad v. CIT [1955] 28 ITR…

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