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ERROR IN SEC.292BB......!!!!!!!

Tax queries 871 views 1 replies

Ashish M

Chartered Accountant

2731 Points Posted on 25 September 2009

IT WOULD BE INTERESTING TO NOTE THAT,

IN SEC. 292BB, WHICH VALIDATE NOTICES OF DEPT. IN CERTAIN CIRCUMSTANCES, CONTAINS AN ERROR MAY BE PRINTING OR OTHERWISE, VIZ.......

IN THE SECTION, THE PROVISO CONTAINS THE WORD "COMPELETION" WHICH IT SHOULD BE ACTUALLY "COMMENCEMENT".................

EVEN THE MEMORANDUM EXPLAINING THE PROVISIONS OF SEC.292BB, IMPLIEDLY SAYS THAT THE OBJECTION SHOULD BE RAISED BEFORE "COMMENCEMENT" OF ASSESSMENT AND NOT "COMPELETION"..........!!!!!!!!!!!!

ANY CLARITY ON THIS ISSUE.............??????

Replies (1)

Rajeev

www.rkmco.com

985 Points Posted on 26 September 2009

i think its is completion and not commencement , commencement/initation of assessment proceedings begins with the issue of the notice . the intention of the legislature doesnt seem to make the assessee a total handicap.Obviously the assessee reserves the right to challenge the service of a notice , but he can only do after the notice is served wrongly according to him .

So i think its completion and not commencement . The provisions mentions completion , i think there must be some mistake in memorandum as pointed out by you .