Escaped Assessment - Law Dictionary Search Results

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Escaped assessment

Escaped assessment, the expression 'escaped asses-sment' includes that of a turnover which has not been assessed at all, because for one reason or other no assessment proceedings were initiated and therefore no assessment was made in respect there of, Ghanshyamdas v. Regional Asst. C.S.T., AIR 1964 SC 766: (1964) 4 SCR 436. [C.P. and Berar Sales Tax Act, (1 of 1947), s. 11A]See also C.I.T. v. Sun Engg. Coorss (P.) Ltd., (1992) 4 SCC 363: AIR 1993 SC 43....

Escaped income

Escaped income, it would be difficult to confine the meaning of the word 'escape' only to cases where no return has been submitted by the assessee. Even if the assessee has submitted a return of his income, cases may well occur where the whole of the income has not been assessed and, such part of the income as has not been assessed can well be regarded as having escaped assessment, Maharaj Kumar Kamal Singh v. C.I.T., AIR 1959 SC 257 (261): 1959 Supp (1) SCR 10. (Income-tax Act, 1922, s. 34)...

Reason to believe

Reason to believe, does not mean a purely subjective satisfaction. The belief must be held in good faith; it cannot be merely a pretence, S. Narayanappa v. CIT, Bangalore, AIR 1967 SC 523: (1967) 65 ITR 219: 1967 1 SCJ 161.Reason to believe, does not mean a purely subjective satisfaction. The believe must be held in good faith. It cannot be merely a pretence, S. Narayanappa v. C.I.T., Bangalore, 1967 ITR 219: AIR 1967 SC 523.Reason to believe, is not synonymous with subjective satisfaction of the officer. The belief must be held in good faith; it cannot merely be a pretence, Partap Singh v. Director of Enforcement, AIR 1985 SC 989: (1985) 3 SCC 72.Means that reasons should exist but the court will not go into the adequacy of such reason, Manchand & Co. v. CIT, West Bengal, AIR 1969 Cal 431.Means coming to the conclusion on the basis of the information that a thing, condition, statement or fact exists. It only means facts which prima facie will convince any reasonable person under the c...

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