Limitation on tax assessment notices: time bars with a narrow evidentiary exception for high value escaped income.

Section 282 sets limitation periods for notices under sections 280 and 281: notices under section 280 are barred after four years and three months and under section 281 after four years, with an extended window up to six years where the Assessing Officer has books, documents or other evidence indicating that income chargeable to tax has escaped assessment and is likely to meet a specified high-value threshold; neither notice may be issued within one year from the end of any tax year.

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