Insertion of new section 16A

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..... n 15 at any time after the expiration of a period of- (a) four years commencing on and from the 1st day of April, 1975 or one year from the date of the filing of a return or a revised return under section 14, whichever is later, where the assessment year is an assessment year commencing before that date; (b) four years from the end of the assessment year in which the gifts were first assessabl .....

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..... ment year in which the said notice was served; (c) where the assessment or re-assessment is to be made in a case falling within clause (b) of sub-section (2) of section 16 for which a notice has been served under that sub-section on or after the 1st day of April, 1975, after the expiration of a period of- (i) four years from the end of the assessment year in which the gifts were first assessab .....

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..... ntained in an order under section 22, section 23, section 24, section 26 or section 28 or in an order of any court in a proceeding otherwise than by way of appeal or reference under this Act and such assessment or re-assessment may, subject to the provisions of sub-section (3), be completed at any time. Explanation 1.-In computing the period of limitation for the purposes of this section- (i) .....

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