Reopening assessments require recorded reasons and Board approval when extended time limits or non-disclosure issues arise. Reopening assessments must be supported by a formally recorded statement of reasons using a revised form; Income-tax Officers must specify the exact income believed to have escaped, explain the method of computation, indicate which limb of reopening applies, attach detailed notes when information post-dates the original assessment, and record facts bearing on procedural bars. The Board's prior approval is required for reopenings beyond the extended time limit, and officers must ascertain whether a voluntary return exists before issuing a notice.
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Provisions expressly mentioned in the judgment/order text.
Reopening assessments require recorded reasons and Board approval when extended time limits or non-disclosure issues arise.
Reopening assessments must be supported by a formally recorded statement of reasons using a revised form; Income-tax Officers must specify the exact income believed to have escaped, explain the method of computation, indicate which limb of reopening applies, attach detailed notes when information post-dates the original assessment, and record facts bearing on procedural bars. The Board's prior approval is required for reopenings beyond the extended time limit, and officers must ascertain whether a voluntary return exists before issuing a notice.
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