Escapement of income chargeable to tax is a subject with very wide dimensions. Assessing Officers are familiar with the provisions relating to “income escaping assessment”, i.e. section 147. This is commonly known as reassessment. However, it is seen that many times, the scope of section 147 is not understood correctly. As a result, this section is often resorted to even in cases when it is not followed correctly. There are many instances where assessments made under section 147 have been cancelled by the appellate authorities on the ground of being invalid. It is necessary that this section is properly understood.
Thus, section 147 has assumed great importance. In this book an attempt has been made to explain the provisions relating to assessment and re-assessment. This book discusses the basics of section 147 and as many relevant issues as possible. This book, at best, can be claimed to give some glimpses of a vast subject like section 147 and not an exhaustive exposition on the subject.

The book is very exhaustive and covers all probable areas along with latest amendments made as per Finance Act of 2021. It covers an extensive analysis on the reassessment provisions in light of landmarks judgements which will help Department as well as professionals to face dispose the litigations hastily.