Changes in special procedure for assessment of search cases.

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..... dinance, inter alia, provides for certain changes in the special procedure for assessment of search cases as contained in Chapter XIVB of the Income-tax Act, 1961. As per section 1(2) of the Ordinance, the provisions relating to Chapter XIVB shall come into force on the 1st day of January, 1997. References have been received from officers in the field regarding the applicability of the provisions .....

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..... approved by the Commissioner of Income-tax, (c) the first appeal will lie with the ITAT, (d) no prosecution u/s. 276CCC will be launched for failure/delay in filing the return u/s. 158BC, and (e) the period of limitation for passing the order u/s. 158BE shall be one year from the end of the month in which the last of the authorisations for search u/s. 132 or for requisition u/s. 132A, as the .....

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