Re-opening of books restricted to recent eight financial years, with exception where government directed longer retention. The amendment extends the re-opening power to include orders prompted by any other person concerned in addition to regulatory bodies, and inserts a new rule limiting re-opening of books to periods not earlier than eight financial years immediately preceding the current year. An exception allows re-opening within a longer period where the Central Government has directed longer retention under the relevant retention proviso.
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.
Re-opening of books restricted to recent eight financial years, with exception where government directed longer retention.
The amendment extends the re-opening power to include orders prompted by any other person concerned in addition to regulatory bodies, and inserts a new rule limiting re-opening of books to periods not earlier than eight financial years immediately preceding the current year. An exception allows re-opening within a longer period where the Central Government has directed longer retention under the relevant retention proviso.
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