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of <h1>Section 282 limits notices under 280 and 281 to four years, one-year minimum, six-year extension for Rs 50 lakh+</h1> Section 282 fixes a general four-year limitation (four years and three months for notices under section 280) for issuing notices under sections 280 and 281, with a one-year minimum bar, and permits extension up to six years where escaped income is or likely is Rs. 50 lakh or more. The Bill and the enacted Act are substantively identical except the Act adds 'in his possession' for the section 280 exception, emphasizing that the Assessing Officer must actually possess books/documents/evidence to invoke the extended six-year window, narrowing reliance on mere leads.
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