SC: Section 22 of Hindu Succession Act Preference For Class-I Heirs Applies to Agricultural Land  ||  Supreme Court: Refund Clause in Sale Agreement Does Not Extinguish Right to Specific Performance  ||  SC Clarifies When a Probate Application Filed After a Testator's Death is Time-Barred  ||  Madras HC: Coordinate Bench Cannot Reopen Issue Already Settled by Another Division Bench  ||  Delhi HC Urges Law to Regulate Media, Notes Anyone with a Mobile Phone Can Claim to be a Journalist  ||  CCI Rejects Allegations of Collusion Involving Reliance Jio and More Than 4,500 Entities  ||  Allahabad HC: Working Mother with Child Custody Cannot Shift Entire Maintenance Liability to Father  ||  Bombay HC: Possessory Suit U/S 6 of the SRA is Maintainable Despite a Licensor-Licensee Relationship  ||  Del HC: Master's Candidates Without the Prescribed Bachelor's Degree are Ineligible as Govt Teacher  ||  Cal HC: BSF Cannot Deny DIG Rank to an Officer Injured in 1995 Road Accident After Earlier Promotion    

CBDT Reduces Time Limit to Re-open Income Tax Assessments - (07 Dec 2021)

DIRECT TAXATION

Central Board of Direct Taxes (CBDT) has reduced the Time limit to re-open Income Tax assessment from 6 years to 3 years. The assessment can be reopened up to 10 years, only when there is evidence of concealment of income of more than Rs. 50 Lakhs in a year with approval of e Principal Chief Commissioner of Income Tax.

Tags : CENTRAL BOARD OF DIRECT TAXES   RE-OPEN INCOME TAX ASSESSMENTS  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved