Report No. 12
158. Other Provisions.-
(1) In an assessment or re-assessment made under section 152 [section regarding income escaping assessment], the tax shall be chargeable at the rate or rates at which it would have been charged had the income not escaped as assessment or full assessment, as the case may be.
[Section 34(1), 2nd proviso]
(2) Where an assessment is reopened in circumstances falling under clause (b) of section 152 [section regarding income escaping assessment], the assessee may, if he has not impugned any part of the original assessment order for that year either under sections 254 to 256  or under section 272 [33A], claim that the proceedings under section 152 [section regarding income escaping assessment] shall be dropped on his showing that he had been assessed on an amount or to a sum not lower than what he would be rightly liable for even if the items alleged to have escaped assessment had been taken into account, or the assessment or computation had been properly made:
Provided that in so doing he shall not be entitled to reopen matters concluded by an order under section 271 [33B] or section 161 or 162  or by a decision under section 263  or section 269 [66A].