https://www.taxtmi.com/forum/issue?id=108116 Amendments allow an assessee who has received a notice under section 148 for any assessment year to approach the Settlement Commission for other assessment years with alleged escapement if returns for those years were filed; they reframe commencement of proceedings to the date of furnishing a return and conclude on assessment or after two years where no assessment is made. Rectification timelines under section 245D are extended to specified six-month periods, immunity orders must record reasons, proceedings abate where orders lack settlement terms, related persons are barred from repeat applications, and seized assets may be adjusted against liabilities arising from settlement applications. en-us Sat, 28 Feb 2015 20:06:35 +0530 Thu, 23 Jan 2025 15:57:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=108116 Amendments allow an assessee who has received a notice under section 148 for any assessment year to approach the Settlement Commission for other assessment years with alleged escapement if returns for those years were filed; they reframe commencement of proceedings to the date of furnishing a return and conclude on assessment or after two years where no assessment is made. Rectification timelines under section 245D are extended to specified six-month periods, immunity orders must record reasons, proceedings abate where orders lack settlement terms, related persons are barred from repeat applications, and seized assets may be adjusted against liabilities arising from settlement applications. Discussion-Forum Income Tax Sat, 28 Feb 2015 20:06:35 +0530 https://www.taxtmi.com/forum/issue?id=108116