https://www.taxtmi.com/acts?id=50684 The amendment establishes a two-year statutory limitation for ordinary assessment orders measured from the end of the assessment year in which the income was first assessable, and imposes a two-year limitation for assessment, reassessment or re-computation following service of a reassessment notice measured from the end of the financial year in which that notice was served, subject to a transitional extension for notices served on or before 31st March, 1987. Clause (iv) of Explanation 1 is omitted. en-us Mon, 14 Apr 2025 18:02:15 +0530 Mon, 14 Apr 2025 18:02:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50684 The amendment establishes a two-year statutory limitation for ordinary assessment orders measured from the end of the assessment year in which the income was first assessable, and imposes a two-year limitation for assessment, reassessment or re-computation following service of a reassessment notice measured from the end of the financial year in which that notice was served, subject to a transitional extension for notices served on or before 31st March, 1987. Clause (iv) of Explanation 1 is omitted. Act-Rules F. Acts / Amendment Acts Mon, 14 Apr 2025 18:02:15 +0530 https://www.taxtmi.com/acts?id=50684