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Tax officer has powers to reassess a case if he gathers any information suggestive of income escapement. Case closure in such an instance could take a period upto 24 months depending on the date/month of issue of notice.


This period of 24 months is often  like a situation of a sword hanging over the taxpayers head. 


Taxpayers should ordinarily approach Courts of jurisdiction to fast track their case with the help and guidance of his Chartered Accountant and advocate.


The Court of Madras jurisdiction in the case of Fast Finance [2022] 446 ITR 378 (Mad) directed the tax officer to complete the reassessment within a period of 90 days from the date of receipt of the order since it was a decade old assessment reopening.

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