Limitation period reduction narrows the allowable revision window for income-tax assessments under amended law, tightening timelines. The amendment substitutes the longer limitation previously specified in sub section (2)(c) of section 239 of the Income tax Act with a shorter limitation period, thereby restricting the timeframe in which the revision mechanism under that clause may be invoked; the change is given effect from a stated effective date.
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Limitation period reduction narrows the allowable revision window for income-tax assessments under amended law, tightening timelines.
The amendment substitutes the longer limitation previously specified in sub section (2)(c) of section 239 of the Income tax Act with a shorter limitation period, thereby restricting the timeframe in which the revision mechanism under that clause may be invoked; the change is given effect from a stated effective date.
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