Electronic certificates of origin enable preferential tariffs under the India-New Zealand FTA when format, verification, and filing requirements are m...
Customs approval for liquid cargo exports extends designated jetty operations while existing boarding station and customs area limits remain unchanged...
Mandatory compliance document verification now conditions out-of-charge clearance for imported cosmetics, drugs, and medical devices through PGA-facil...
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Reassessment limitation for assessment years commencing on or before 1 April 2021 remains governed by the first proviso to Section 149(1), which preserves the pre-amendment limitation. A post-amendment search cannot by itself invoke the substituted ten-year period. The six-year period under Section 153A covers years immediately preceding the search assessment year, while the ten-year period under Explanation 1 runs from the end of, and includes, the search assessment year. On that computation, A.Y. 2012-13 lay outside both periods, rendering the reassessment notice and consequential proceedings time-barred and quashed.
Reassessment limitation for assessment years commencing on or before 1 April 2021 remains governed by the first proviso to Section 149(1), which preserves the pre-amendment limitation. A post-amendment search cannot by itself invoke the substituted ten-year period. The six-year period under Section 153A covers years immediately preceding the search assessment year, while the ten-year period under Explanation 1 runs from the end of, and includes, the search assessment year. On that computation, A.Y. 2012-13 lay outside both periods, rendering the reassessment notice and consequential proceedings time-barred and quashed.
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