https://www.taxtmi.com/article/detailed?id=5374 The Act lengthens the statutory limitation for framing assessments under sections 29(2) and 29(3), removes the proviso requiring Commissioner-ordered extensions, provides a transitional window for earlier years, and clarifies that the extended limitation applies where the period has not yet expired. It validates past Commissioner extension orders against challenges based on notice or communication defects. Separately, section 46-A permits a designated officer, with prior Commissioner approval, to purchase state-notified goods appearing under-priced at the declared price plus markup and costs, treating refusal or non-delivery as conclusive proof of under-pricing; the section is limited to notified goods and raises concerns about the presumption's rebuttability. en-us Tue, 03 Dec 2013 06:47:26 +0530 Tue, 03 Dec 2013 06:47:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5374 The Act lengthens the statutory limitation for framing assessments under sections 29(2) and 29(3), removes the proviso requiring Commissioner-ordered extensions, provides a transitional window for earlier years, and clarifies that the extended limitation applies where the period has not yet expired. It validates past Commissioner extension orders against challenges based on notice or communication defects. Separately, section 46-A permits a designated officer, with prior Commissioner approval, to purchase state-notified goods appearing under-priced at the declared price plus markup and costs, treating refusal or non-delivery as conclusive proof of under-pricing; the section is limited to notified goods and raises concerns about the presumption's rebuttability. Articles Value Added Tax - VAT and CST Tue, 03 Dec 2013 06:47:26 +0530 https://www.taxtmi.com/article/detailed?id=5374