Important aspect related to Assessment - Section 152

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..... the income not escaped assessment (Respective year tax rate shall apply). [ Section 152(1) ] Dropping of Assessment Proceeding in certain cases Proceedings once initiated u/s 147 may be dropped by AO, If assessee satisfies him that - Where an assessment is reopened under section 147, the assessee may claim that the proceedings under section 147 shall be dropped on his showing that he had been asse .....

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..... ember, 2024, the provisions of sections 147 to 151 shall apply as they stood immediately before the commencement of the Finance (No. 2) Act, 2024. [ Inserted vide Finance (No. 2) Act, 2024 ] [ Section 152(3) ] Where, in a case other than that covered under sub-section (3), a notice under section 148 has been issued or an order under clause (d) of section 148A has been passed, prior to the 1st day .....

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