Option to declare lower presumptive profits removed, assessments may be kept pending and enforcement of related demands temporarily stayed. Amendments removed the statutory option to offer a lower profit than presumptive profits for the assessment year 1997-98, creating an anomaly; the Board will consider remedial measures. Meanwhile, assessments for that year may be kept pending and any additional demand arising solely from denial of that option should not be enforced until 31.3.1999.
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Provisions expressly mentioned in the judgment/order text.
Option to declare lower presumptive profits removed, assessments may be kept pending and enforcement of related demands temporarily stayed.
Amendments removed the statutory option to offer a lower profit than presumptive profits for the assessment year 1997-98, creating an anomaly; the Board will consider remedial measures. Meanwhile, assessments for that year may be kept pending and any additional demand arising solely from denial of that option should not be enforced until 31.3.1999.
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