Time limit suspension for income tax assessments clarified: exclusion period runs from stay grant to certified vacating order receipt. The amendment substitutes clause (i) of the Explanation to the provision on assessment time limits to specify that the excluded period commences on the date a court grants a stay of the assessment proceeding and ends on the date a certified copy of the order vacating the stay is received by the jurisdictional Principal Commissioner or Commissioner.
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Time limit suspension for income tax assessments clarified: exclusion period runs from stay grant to certified vacating order receipt.
The amendment substitutes clause (i) of the Explanation to the provision on assessment time limits to specify that the excluded period commences on the date a court grants a stay of the assessment proceeding and ends on the date a certified copy of the order vacating the stay is received by the jurisdictional Principal Commissioner or Commissioner.
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