Direct tax

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vineet jain

vineet jain (Querist)
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20 February 2014 please explain sec 152(2) with example

Nikhil Kaushik

Nikhil Kaushik (Expert)
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24 February 2014 well what section 152(2) means where reassessment proceedings are initiated and the assessee is able to demonstrate that even if the tax authorities include the income being claimed as escaped from assessment, the tax liability shall be equal or lower than the tax he has already borne, then the reassessment proceedings can be dropped.