Limitation period for assessment extended where seized records are handed to the jurisdictional assessing officer under section 153C. The amendment provides that, for an "other person" under section 153C, the limitation for assessment or reassessment is the later of the periods in clause ... Summary
Limitation period for assessment extended where seized records are handed to the jurisdictional assessing officer under section 153C.
The amendment provides that, for an "other person" under section 153C, the limitation for assessment or reassessment is the later of the periods in clause (a) or (b) of subsection (1) of section 153B or one year from the end of the financial year in which books, documents or assets seized or requisitioned are handed over under section 153C to the Assessing Officer having jurisdiction over that other person.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
