Income-tax Act,1961
Act No : 43
Section :
Other provisions
152. Other provisions (1) In an assessment, reassessment or recomputation made under section 147, the tax shall be chargeable at the rate or rates at which it would have been charged had the income not escaped assessment. (2) Where an assessment is reopened 4[under section 147], the assessee may, if he has not impugned any part of the original assessment ------------------------------------------------------------------------ 1 Inserted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4- 1989. 2 Substituted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989. Prior to the substitution, section 151, as amended by the Direct Tax Laws (Amendment) Act, 1987, read as under: "151. Sanction for issue of notice.-(1) No notice shall be issued under section 148 after the expiry of eight years from the end of the relevant assessment year, unless the Board is satisfied on the reasons recorded by the Assessing Officer that it is a fit case for the issue of such notice. (2) No notice shall be issued under section 148 after the expiry of four years from the end of the relevant assessment year, unless the Chief Commissioner or Commissioner is satisfied on the reasons recorded by the Assessing Officer that it is a fit case for the issue of such notice." 3 Substituted for "except by an Assessing Officer of the rank of Assistant Commissioner or Deputy Commissioner" by the Finance Act, 1990, w.e.f. 1-4-1990. 4 Substituted for "in circumstances falling under clause (b) of section 147" by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4- 1989. ------------------------------------------------------------------------- 1.552 order for that year either under sections 246 to 248 or under section 264, claim that the proceedings under section 147 shall be dropped on his showing that he had been assessed on an amount or to a sum not lower than what he would be rightly liable for even if the income alleged to have escaped assessment had been taken into account, or the assessment or computation had been properly made: Provided that in so doing he shall not be entitled to reopen matters concluded by an order under section 154, 155, 260, 262 or 263.
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