Limitation on gift-tax notices: must be served within twelve months from end of return month; intimation deemed an order. The amendment replaces the proviso to subsection (2) so that no notice under that subsection shall be served after the expiry of twelve months from the end of the month in which the return is furnished; it also inserts an Explanation deeming an intimation sent under subsection (2) or subsection (1B) to be an order for the purposes of subsection (2) of section 24.
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Limitation on gift-tax notices: must be served within twelve months from end of return month; intimation deemed an order.
The amendment replaces the proviso to subsection (2) so that no notice under that subsection shall be served after the expiry of twelve months from the end of the month in which the return is furnished; it also inserts an Explanation deeming an intimation sent under subsection (2) or subsection (1B) to be an order for the purposes of subsection (2) of section 24.
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