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2008 (3) TMI 39 - HC - Income TaxTime limit for completion of re-assessment proceedings u/s 147 read with sec. 153(2) – period of two years for completing the assessment has been prescribed only in those cases in which notices were issued between 1.4.1999 and 31.3.2000 – argument of the revenue that amended provisions of Section 153(2) of the Act which became operative w.e.f. 1.6.2001 are effective only in respect of the notices under Section 148 served on or after 1.6.2001 and are prospective in nature is not acceptable.
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