Query No. 1

I refer to your reply given in Oct 07 issue againt question about the time barred assessments.

The queriest in the said question has asked whether various years mentioned there in are time barred as of now. The years refereed to also includes the year 2003-04.

In your reply you have quoted the section 33(4-1B) and you have mentioned that "as per said section for the period from 1999-2000 till 31-3-2003 the limitation is increased to 5 years".

This gives the impression that year 2003-04 is already time barred.

However, I believe that the govt. has subsequently amended section 33 (4-1B) some time in 2005 to cover the years up to 31-3-2005

Hence the year 2003-04 will get time barred on 31-3-2009.

In case my understanding is correct, I request you to make a small clarification of the same in the next issue.

The members at large will be benefitted since most of us like me reads your column with great interest and your views expressed therein have always been useful to us.

With best regards

Hiten Gada

Reply

While giving reply my intention was to draw attention to provision of section 33(4-1B) about extension of time. As rightly pointed out above section 44(4-1B) is amended on 31-3-2005 vide Mah.Act XII of 2005 dt.31-3-2005 and the ending period 31-3-2003 is replaced by 31-3-2005. Therefore the time barring period will be 5 years upto 31-3-2005 and the limitation has to be seen accordingly.