Specified Order - Definition / Legal Terminology - Income Tax

Explanation (b) - For the purposes of section 245MA of the Income tax Act 1961 - Specified Order means such order, including draft order, as may be specified by the Board, and,- (i) aggregate sum of variations proposed or made in such order does not exceed ten lakh rupees; (ii) such order is not based on search initiated under section 132 or requisition under section 132A in the case of assessee or any other person or survey under section 133A or information received under an agreement referred to in section 90 or section 90A; (iii) where return has been filed by the assessee for the assessment year relevant to such order, total income as per such return does not exceed fifty lakh rupees.