Application of seized or requisitioned assets-adjustment prior to completion of assessment

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Full Text of the Document

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....mmissioners of Income Tax(Central). Sub : Application of seized or requisitioned assets-adjustment prior to completion of assessment - reg. Sir, Section 132B introduced by the Finance Act 2002 w.e.f. 1.6.2002 and as amended subsequently provides that the existing liability under the various Direct Tax Laws and the liability as determined on completion of the assessment under Chapter XIVB/Secti....