Report No. 12
157. Sanction for issue of notice.-
(1) No notice shall be issued under section 154 [section regarding notice] after the expiry of eight years from the end of the relevant assessment year, unless the Central Board of Revenue is satisfied on the reasons recorded by the Income-tax Officer that it is a fit case for the issue of such notice.
[Section 34(1), first proviso, clause (iii), part]
(2) No notice shall be issued under section 154 [section regarding notice] after the expiry of four years from the end of the relevant assessment year, unless the Commissioner is satisfied on the reasons recorded by the Income-tax Officer that it is a fit case for the issue of such notice.
[Section 34(1), 1st proviso, clause (iii), part]
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