Clause 38 - Amendment of section 153B

Time limitation exclusion expanded to cover audit direction intervals, information exchange delays, and avoidance arrangement referrals.

The amendments exclude from the assessment limitation period: the interval from issuance of an Assessing Officer's audit direction to the last date for the audit report or, if challenged, until the Commissioner receives the order setting aside the direction; the interval from the initial reference for exchange of information to the date the requested information is last received by the Commissioner or a prescribed maximum period; and the interval from the Commissioner's receipt of a reference for declaring an arrangement impermissible avoidance to the date a directional decision or order under the avoidance provision is received by the Assessing Officer.