Revision time-limit: orders on income tax revision applications subject to a statutory one year deadline with appellate exceptions. The amendment requires that for every assessee's revision application made on or after 1 October 1998 an order must be passed within one year from the end of the financial year in which the application is made, excluding time taken for re hearing under the proviso to section 129 and any period of court stay; however, orders may be made beyond that period to give effect to findings or directions of the Appellate Tribunal, the High Court or the Supreme Court.
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Revision time-limit: orders on income tax revision applications subject to a statutory one year deadline with appellate exceptions.
The amendment requires that for every assessee's revision application made on or after 1 October 1998 an order must be passed within one year from the end of the financial year in which the application is made, excluding time taken for re hearing under the proviso to section 129 and any period of court stay; however, orders may be made beyond that period to give effect to findings or directions of the Appellate Tribunal, the High Court or the Supreme Court.
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