Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
For AY 2015-16, reassessment notices issued after expiry of the earlier six-year limitation could not be revived under the amended regime. The exclusion and extension in the fifth and sixth provisos were confined to computing limitation under the amended provision and did not dilute the absolute bar created by the first proviso where the notice had already become time-barred. A notice issued on 07/04/2022 was therefore beyond the surviving limitation and without jurisdiction, and the consequential reassessment was quashed.
For AY 2015-16, reassessment notices issued after expiry of the earlier six-year limitation could not be revived under the amended regime. The exclusion and extension in the fifth and sixth provisos were confined to computing limitation under the amended provision and did not dilute the absolute bar created by the first proviso where the notice had already become time-barred. A notice issued on 07/04/2022 was therefore beyond the surviving limitation and without jurisdiction, and the consequential reassessment was quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
