Processing of returns: processing not required after issuance of a statutory notice; trusts' exemption disregarded where applicability conditions arise.

Processing of returns shall not be necessary where a statutory notice has been issued to the assessee; this takes effect from 1 July 2012. A retrospective proviso (from 1 April 2009) prevents the Assessing Officer from giving effect to the trust exemption clause for a previous year where specified applicability conditions to the relevant definition provision become operative, regardless of withdrawal or rescission of any prior approval or notification.

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