Tuesday 22 September 2015

Madras HC counts limitation period of reassessment from the date of rectification order

IT: Section 149 does not relax restriction of four years prescribed in proviso to section 147 for issuance of a notice under section 147; rather it puts an additional time restriction even where there is no restriction of time for reopening of assessment on account of failure of assessee to disclose fully and truly all material facts

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