Time-limit for finalising provisional assessments

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....Excise and have made recommendations, inter-alia, making specific provisions prescribing time- limit for finalisation of provisional assessment cases. They have also expressed concern that in many cases in the past, the provisional assessments were made without taking requisite bonds with securities or in many cases the bonds were not. enforced or in yet other cases, the bank guarantees were not r....

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....ranted by the Chief Commissioner for a period as he may find reasonable. (4) The Chief Commissioner can grant subsequent extensions depending on the merit of the case. (5) At the time of granting extensions, the Commissioner or the Chief Commissioner, as the case may be, will satisfy himself that there are sufficient reasons for granting extensions and will also monitor such cases. (6) The Offi....