Report No. 12
153. "Income which has escaped assessment: Meaning.-
For the purposes of section 152 [section regarding income escaping assessment], the following shall also be deemed to be cases where income chargeable to tax has escaped assessment, namely-
(a) where income chargeable to tax has been under assessed; or
(b) where such income has been assessed at too low a rate; or
(c) where such income has been made the subject of excessive relief under this Act; or
(d) where excessive loss or depreciation allowance has been computed.
[Section 34(1), first para., clause (a), part, and clause (b), part]