Extension of limitation period ensures assessing officers are granted a minimum statutory time for assessment when remaining period is inadequate. An inserted proviso to the explanation to section 153 provides that if, immediately after exclusion of a specified time, the remaining period of ... Summary
Extension of limitation period ensures assessing officers are granted a minimum statutory time for assessment when remaining period is inadequate.
An inserted proviso to the explanation to section 153 provides that if, immediately after exclusion of a specified time, the remaining period of limitation available to the assessing officer for assessment, reassessment or re computation is shorter than a prescribed minimum, the remaining period shall be extended to that minimum and the period of limitation shall be deemed extended accordingly.
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