Time-limit for finalising provisional assessments: initial period with specified extensions by Commissioner and Chief Commissioner under conditions. All provisional assessments must be finalised within six months, with a Commissioner-granted six-month extension where necessary and further extensions by the Chief Commissioner on merit. At each extension the officer must be satisfied of sufficient reasons and monitor the case. Officers must ensure provisional clearances are backed by sufficient bonds and valid security for the full extension period; bank guarantees must be renewed or strict action taken. Upon finalisation, adjustments must be made within fifteen days and bonds/securities enforced if assesssee delay risks revenue.
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.
Time-limit for finalising provisional assessments: initial period with specified extensions by Commissioner and Chief Commissioner under conditions.
All provisional assessments must be finalised within six months, with a Commissioner-granted six-month extension where necessary and further extensions by the Chief Commissioner on merit. At each extension the officer must be satisfied of sufficient reasons and monitor the case. Officers must ensure provisional clearances are backed by sufficient bonds and valid security for the full extension period; bank guarantees must be renewed or strict action taken. Upon finalisation, adjustments must be made within fifteen days and bonds/securities enforced if assesssee delay risks revenue.
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