Deeming provisions of assessment of excluding income for another assessment year or on another person - Income Tax - Ready Reckoner - Income Tax

Deeming provisions of assessment of excluding income for another assessment year or on another person [ Explanation 2 of Section 153 ] (a) Case - Where by an order referred to in section 153(6)(i), any income excluded from the total income of the assessee for an assessment year Consequences - An assessment of such income for another assessment year shall for the purposes of section 150, be deemed to be one made in consequences of or to give effect to any finding or direction contained in the said order. (b) Case - Where by an order referred to in section 153(6)(i), any income is excluded from the total income of and person and held to be the income of another person. Consequences - An assessment of such income on such other person shall for the purposes of section 150, be deemed to be and made in consequences of or to give effect to any finding or direction contained in the said order, provided such other person was given an opportunity of being heard before the said order was passed.