Limitation for revision of tax orders: two-year bar from financial year end; inspecting assistant commissioner's orders treated as income-tax officer's. Amendment declares that, for revision purposes, an order by the Income-tax Officer includes an order by an Inspecting Assistant Commissioner exercising Income-tax Officer powers; it also substitutes a limitation provision barring any revision after two years from the end of the financial year in which the order sought to be revised was passed.
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Provisions expressly mentioned in the judgment/order text.
Limitation for revision of tax orders: two-year bar from financial year end; inspecting assistant commissioner's orders treated as income-tax officer's.
Amendment declares that, for revision purposes, an order by the Income-tax Officer includes an order by an Inspecting Assistant Commissioner exercising Income-tax Officer powers; it also substitutes a limitation provision barring any revision after two years from the end of the financial year in which the order sought to be revised was passed.
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