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TMI BlogAmendment of section 149X X X X Extracts X X X X X X X X Extracts X X X X ..... er has in his possession books of account or other documents or evidence which reveal that the income chargeable to tax, represented in the form of (i) an asset; (ii) expenditure in respect of a transaction or in relation to an event or occasion; or (iii) an entry or entries in the books of account, which has escaped assessment amounts to or is likely to amount to fifty lakh rupees or more: ; (ii) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on (1), where the income chargeable to tax represented in the form of an asset or expenditure in relation to an event or occasion of the value referred to in clause (b) of sub-section (1), has escaped the assessment and the investment in such asset or expenditure in relation to such event or occasion has been made or incurred, in more than one previous years relevant to the assessment years within ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eal that the income chargeable to tax, represented in the form of, (i) an asset; (ii) expenditure in respect of a transaction or in relation to an event or occasion; or (iii) an entry or entries in the books of account, which has escaped assessment amounts to or likely to amount to fifty lakh rupees or more. This amendment will take effect from lst April, 2022. It is also proposed to amend the fir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the income chargeable to tax represented in the form of an asset or expenditure in relation to an event or occasion of the value referred to in clause (b) of sub-section (1) of the said section, has escaped the assessment and the investment in such asset or expenditure in relation to such event or occasion has been made or incurred, in more than one previous years relevant to the assessment year ..... X X X X Extracts X X X X X X X X Extracts X X X X
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