Reassessment authority expanded: section 10 now expressly permits reassessments with retrospective effect from 1 July 2015. The amendment inserts the words "or reassess" into section 10(3) and "or reassessment" into section 10(4), expressly authorising reassessment in addition ... Summary
Referred In :
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
Reassessment authority expanded: section 10 now expressly permits reassessments with retrospective effect from 1 July 2015.
The amendment inserts the words "or reassess" into section 10(3) and "or reassessment" into section 10(4), expressly authorising reassessment in addition to assessment, with both insertions deemed effective from 1 July 2015.
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