Other Provisions [Section 152] :

As per section 152(1), in the case of any assessment or reassessment or recomputation made under section 147, the income escaping assessment shall be chargeable to tax at the rate applicable to the respective years in which such income is liable to be taxed.

As per section 152(2), where an assessment is reopened under section 147, the assessee may claim that the proceedings under section 147 shall be dropped on his showing that he had been assessed on an amount not lower than what he would be rightly liable for even if the income alleged to have escaped assessment had been taken into account. Alternatively, he can make such a claim on showing that the assessment or computation had been properly made. An assessee can avail this benefit only if he had not challenged any part of the original assessment order either by filing an appeal or filing a revision petition. The assessee, while making such claim, shall not be entitled to reopen matters concluded by an order under sections 154,155, 260, 262 or 263.