This book is a comprehensive commentary on the Reassessment provision under the Income-tax Act, as introduced by the Finance Act, 2021. It features an exhaustive discussion on both fundamental concepts and issues arising under the new law of reassessment combined with essential commentary on statutory provisions and the jurisprudence. It also includes cross-references to other chapters wherever implications need to be understood entirely to assist the reader.The objective of this book is as follows:[Amendments made by the Finance Act 2021] To provide a general idea about the amendment through Finance Act, 2021 in the provisions relating to reassessment[Insight into Provisions] To provide an insight into various provisions through a simple and understandable explanation[Condition for Deeming Provisions/Procedure] To highlight the conditions under which deeming provision of section 148 can be applied, or procedure contained in section 148A can be followed[Case Laws under the Old Law] To highlight to what extent propositions upheld by the Courts under the old law can be applied under the new law[Revision u/s 263 in Reopened Cases] To highlight the circumstances under which revision u/s 263 in reopened cases can be done[Penal Provisions] To highlight the circumstances under which penal provisions in relation to escaped income can be invoked. The Present Publication is the Latest Edition, authored by D.C. Agarwal & Ajay Kumar Agarwal, as amended by the Finance Act 2021, with the following noteworthy features:[FAQs] for quick answers to 100+ selected questions relating to assessment/reassessment[Easy-to-Understand Commentary in Article Format with a focus on Implications] This book is prepared in the form of an easy-to-understand commentary in an article format, and it also provides guidance in understanding the implications of the new law on reopening of completed assessments[Understanding Concepts such as Inquiry, Jurisdiction Issues, etc.] It will be helpful to understand the new concept of inquiry before the issue of notice u/s 148 of Income-tax Act for reopening of assessment, and implications and jurisdiction issues arising during its implementation[Scope & Limitation of ?Deemed Information?] The new concept of deemed information contained in section 148, its scope and limitation has been explained in a very lucid manner[Interplay of Section 149 & Deemed Information] The book also helps the reader to understand the scope and limitation of section 149 and its effect on deemed information[Discussions on Terms which have a Broad Interpretation] The book features thorough discussion on the scope of expressions such as:o ?Suggest?o ?Books of Accounts?o ?Other Documents?o ?Evidence?o ?Asset?o ?Dumb Information?It also seeks to share the intricacies and issues arising from the implementation of the new law and their solutionsThe structure of the book is as follows:The book consists of fifteen chapters, including one on FAQ.[Introduction] Chapter one introduces the history of reassessment and legislative background, finally ending with a summary of the new law. It also includes certain judicial views arising during the application of different schemes of reassessment introduced from time to time[Income Escaping Assessment - Section 147] Chapter second analyses the following:o The new law as framed u/s 147o The conditions under which section 147 can be invokedo Scope and interpretation of various expressions used in section 147o Area of litigation on account of difference of views arising on the scope of section 147 and its relationship with other sections simultaneously introduced[Issue of Notice where Income has Escaped Assessment - Section 148] Chapter three describes the following: o Various parameters of section 148o Conditions for issue and service of noticeo The concept of informationo Scope and limitation of Explanations contained in section 148o The distinction between the two E