Limitation period exclusion clarified for stayed revision proceedings; start and end of excluded period expressly defined for processing. Clause 73 narrows the Explanation to section 264(6) of the Income-tax Act by defining the excluded period for limitation as commencing on the date the court granted the stay on a section 264 proceeding and ending on the date a certified copy of the order vacating the stay is received by the jurisdictional Principal Commissioner or Commissioner, thereby clarifying computation of the time limit for revision.
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Limitation period exclusion clarified for stayed revision proceedings; start and end of excluded period expressly defined for processing.
Clause 73 narrows the Explanation to section 264(6) of the Income-tax Act by defining the excluded period for limitation as commencing on the date the court granted the stay on a section 264 proceeding and ending on the date a certified copy of the order vacating the stay is received by the jurisdictional Principal Commissioner or Commissioner, thereby clarifying computation of the time limit for revision.
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