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Limitation for revision orders clarified under income-tax law; authorities urged to act promptly to avoid litigation. Amendment extends the applicable limitation where the original statutory period had not expired before 1 October 1984, applying statutory interpretation to continue the limitation for revision powers under section 263; administrative guidance advises completing revisions of assessments passed before that date within two years to minimise controversy and litigation.
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Provisions expressly mentioned in the judgment/order text.
Limitation for revision orders clarified under income-tax law; authorities urged to act promptly to avoid litigation.
Amendment extends the applicable limitation where the original statutory period had not expired before 1 October 1984, applying statutory interpretation to continue the limitation for revision powers under section 263; administrative guidance advises completing revisions of assessments passed before that date within two years to minimise controversy and litigation.
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