section 152 of income tax

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Naved (Querist)
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10 December 2009 dearSir
I m confused about section 152 please give a simple clarification about this section

thanks & regards

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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10 December 2009 Section 152(1) says about the tax rates.

If assessed u/s 147 (reopening of the original assessment i.e. reassessment); tax rates will be same as are applicable to the relevant assessment year.

Section 152(2) -The essence of the section is that the reopening of assessment is to be dropped because the assessee has been assessed in such a way that the reopening of assessment will not increase his tax liability.

To claim the above; the assessee has to write to the AO.

Further -

To understand the provisions of section 152 you have to read the following sections simultaneously with care :

Section 147, 246-248, 264
&
Section 154,155,260,262 or 263.

Section 147 is for reopening of assessment where income has escaped.

Section 246-248 are related to appeals.

Section 264 relates to revision of assessment by CIT.

Section 154 is for rectification of errors.

Section 155 is with regard to other amendments in assessment of variou persons (individual, huf, firm etc.).

Section 260 - Effect of decisions of Supreme court and National Tax Tribunal

Section 262 - relates to hearing before Supreme Court

Section 263- Revision of Assessment by CIT if he considers the there is revenue loss by passing such order.

Ca Rakhecha
Surat

Naved

Naved (Querist)
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16 December 2009 thanks a lot sir
it is really understandfull language
yet again thanx
naved

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