https://www.taxtmi.com/acts?id=16388 Amendments to section 17 provide that the first proviso does not apply where any net wealth located outside India chargeable to tax has escaped assessment, and insert a clause permitting reassessment if four years, but not more than sixteen years have elapsed from the end of the relevant assessment year in such cases. The Explanation identifies persons found to have offshore assets or financial interests and a further Explanation confirms the amendments apply to assessment years beginning on or before the 1st day of April, 2012. en-us Tue, 29 May 2012 13:54:55 +0530 Tue, 29 May 2012 13:54:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=16388 Amendments to section 17 provide that the first proviso does not apply where any net wealth located outside India chargeable to tax has escaped assessment, and insert a clause permitting reassessment if four years, but not more than sixteen years have elapsed from the end of the relevant assessment year in such cases. The Explanation identifies persons found to have offshore assets or financial interests and a further Explanation confirms the amendments apply to assessment years beginning on or before the 1st day of April, 2012. Act-Rules F. Acts / Amendment Acts Tue, 29 May 2012 13:54:55 +0530 https://www.taxtmi.com/acts?id=16388