Time limit for assessment notices now linked to the taxpayer's return filing deadline under the tax return provision. The amendment substitutes the previous phrase limiting issuance to 'before the end of the relevant assessment year' with a requirement that issuance occur 'within the time allowed under sub section (1) of section 139', thereby making the time for issuing the assessment notice depend on the statutory return filing period.
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Time limit for assessment notices now linked to the taxpayer's return filing deadline under the tax return provision.
The amendment substitutes the previous phrase limiting issuance to "before the end of the relevant assessment year" with a requirement that issuance occur "within the time allowed under sub section (1) of section 139", thereby making the time for issuing the assessment notice depend on the statutory return filing period.
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