Understanding of Law and Procedure of Reassessment

This 6th Edition (2025) of Understanding of Law & Procedure of Reassessment (Income Escaping Assessment) by Ram Dutt Sharma provides an in-depth and practical exposition of the law relating to reassessment under the Income Tax Act, 1961, as contained in Sections 147 to 153, updated with all amendments introduced by the Finance Act, 2025.

The book serves as a comprehensive guide for understanding the substantive and procedural aspects of reassessment, incorporating the latest legislative changes, judicial pronouncements, and CBDT instructions.

Key highlights include:

• Detailed coverage of the scope, conditions, and limitations for initiating reassessment proceedings

• Analysis of jurisdictional requirements and validity of notices under section 148

• Time limits for issuance and completion of reassessment proceedings post-amendments

• Impact of recent amendments introduced by the Finance Act, 2025 on reassessment provisions

• Incorporation of important Supreme Court and High Court rulings interpreting reassessment provisions

• Procedural guidance on framing, serving, and responding to reassessment notices

• Step-by-step explanation of reassessment proceedings, from initiation to completion

• Reference to CBDT circulars and notifications for practical clarity

• Discussion on remedies and appellate provisions against reassessment orders

• Case studies and illustrations for practical application

This edition is particularly useful for:

• Tax practitioners, chartered accountants, and advocates dealing with reassessment matters

• Tax officers and departmental representatives

• Students of taxation law seeking clarity on reassessment procedures

• Professionals appearing before appellate forums and courts in income-tax cases

With its practical orientation, updated legislative coverage, and judicial insights, this book is an indispensable reference for mastering the law and practice of reassessment under the Income Tax Act, 1961.