Amendment of section 147.

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....                 "Provided further that nothing contained in the first proviso shall apply in a case where any income in relation to any asset (including financial interest in any entity) located outside India, chargeable to tax, has escaped assessment for any assessment year:";        &nbsp....

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....ed outside India.";       (iv) after Explanation 3, the following Explanation shall be inserted, namely:-                 "Explanation 4.-For the removal of doubts, it is hereby clarified that the provisions of this section, as amended, by the Finance Act, 2012, shall also be applicable for an....

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....n (3) of section 143 or this section, no action shall be taken under this section after the expiry of four years from the end of the relevant assessment year, unless the income has escaped assessment due to the failure on the part of the assesse to file a return under section 139 or 142(1) or 148 or to disclose fully and truly all material facts necessary for his assessment. Explanation 2 to th....