Board's authorisation for taking action under section 154 beyond time limit specified under section 154(7) in cases of protective assessments requiring to be cancelled - Order under section 119(2)(b)

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.... limit specified under section 154(7) in cases of protective assessments requiring to be cancelled - Order under section 119(2)(b) A copy of the order dated 20-12-1971 passed by the Board on the subject is enclosed for information and guidance. Circular : No. 71 [F.No. 246/25/71-A & PAC], dated 20-12-1971. ANNEX - ORDER REFERRED TO IN CLARIFICATION 1. Where the same income was assessed....

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....he Central Board of Direct Taxes, in exercise of the powers vested in them under clause (b) of sub-section (2) of section 119, hereby authorises the Income-tax Officer to take action under section 154, or to admit or dispose of on merits applications under section 154 filed by assessees seeking relief, for cancelling such protective assessments as have become redundant by waiving, if necessary, th....