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Abatement of assessments: pending tax proceedings abate on initiation of search or requisition under specified provisions. The amendment substitutes sub section (2) of section 49 to provide that assessments, reassessments and recomputations (other than matters under this Chapter) pending when a search under section 132 or a requisition under section 132A is initiated shall abate and be deemed to have abated on the date of initiation; and that proceedings for assessment years in the block period (excluding the year of the last authorisation) for which notices are issued between initiation of the search/requisition and the order under clause (c) of sub section (1) of section 158BC shall abate and be deemed to have abated on the date of issue of such notices.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Abatement of assessments: pending tax proceedings abate on initiation of search or requisition under specified provisions.
The amendment substitutes sub section (2) of section 49 to provide that assessments, reassessments and recomputations (other than matters under this Chapter) pending when a search under section 132 or a requisition under section 132A is initiated shall abate and be deemed to have abated on the date of initiation; and that proceedings for assessment years in the block period (excluding the year of the last authorisation) for which notices are issued between initiation of the search/requisition and the order under clause (c) of sub section (1) of section 158BC shall abate and be deemed to have abated on the date of issue of such notices.
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