Time-bar exclusion for international information requests pauses assessment limitation while cross-border information is obtained by the tax authorities. The amendment adds a time-bar exclusion to the limitation provision for assessments, providing that the period from when a competent authority requests information under a tax information exchange agreement until the Commissioner receives that information, or until the expiry of a prescribed temporary period, whichever is shorter, shall be excluded in computing the statutory limitation for completion of assessments and reassessments.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Time-bar exclusion for international information requests pauses assessment limitation while cross-border information is obtained by the tax authorities.
The amendment adds a time-bar exclusion to the limitation provision for assessments, providing that the period from when a competent authority requests information under a tax information exchange agreement until the Commissioner receives that information, or until the expiry of a prescribed temporary period, whichever is shorter, shall be excluded in computing the statutory limitation for completion of assessments and reassessments.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
