February 14, 2025

Section 285 of Income Tax Act, 2025 : Other provisions.

(1) In an assessment, reassessment or recomputation made under section 279, the tax shall be chargeable at the rate or rates at which it would have been charged had the income not escaped assessment.(2) The Assessing Officer may drop the proceedings initiated under section 279 on a claim made by the assessee to the effect

Section 287 of Income Tax Act, 2025 : Rectification of mistake.

(1) An income-tax authority referred to in section 236, for rectifying any mistake apparent from the record, may amend any—(a) order passed by it under the provisions of this Act;(b) intimation or deemed intimation under section 271(1);(c) intimation under section 399.(2) Irrespective of anything contained in any law in force, the authority concerned may, amend

Section 288 of Income Tax Act, 2025 : Other amendments.

The Assessing Officer, may carry out such actions as are specified in column B of the Table below for reasons mentioned therein, subject to the conditions as specified in column C, within four years (except serial number 12) referred to in section 287(8) which shall be reckoned from the time as specified in column D, and

Section 289 of Income Tax Act, 2025 : Notice of demand

(1) When any tax, interest, penalty, fine or any other sum is payable in consequence of any order passed under this Act, the Assessing Officer shall serve upon the assessee a notice of demand in such form, as prescribed, specifying the sum so payable.(2) Where any sum is determined to be payable by the assessee

Section 291 of Income Tax Act, 2025 : Intimation of loss.

The Assessing Officer shall notify to the assessee by an order in writing the amount of the loss as computed by him for the purposes of section 111(1) or (2) or 112 or 113(2) or 115(1), where––(a) in the course of the assessment of the total income of any assessee, it is established that a