Extension of assessment periods: Commissioner may extend statutory timelines for sufficient cause within prescribed additional limits. The amendment permits the Commissioner, on sufficient cause being shown, to extend the statutory periods described as one year and three years by ... Summary
Extension of assessment periods: Commissioner may extend statutory timelines for sufficient cause within prescribed additional limits.
The amendment permits the Commissioner, on sufficient cause being shown, to extend the statutory periods described as one year and three years by additional periods not exceeding one year and two years respectively, thereby creating a discretionary power to lengthen those time-limits within defined maximum extensions.
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