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Restriction on reassessment: completed assessments final before April 2001 should not be reopened to disallow expenses related to exempt income. The amendment introducing Section 14A states that expenditure relating to income not includible in total income is not allowable; however, assessments final before 1 April 2001 should not be reopened under reassessment provisions to disallow such expenditure, to avoid hardship and unnecessary litigation.
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.
Restriction on reassessment: completed assessments final before April 2001 should not be reopened to disallow expenses related to exempt income.
The amendment introducing Section 14A states that expenditure relating to income not includible in total income is not allowable; however, assessments final before 1 April 2001 should not be reopened under reassessment provisions to disallow such expenditure, to avoid hardship and unnecessary litigation.
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