Retrospective amendment to Sec. 9 not applicable where assessment order already passed

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The retrospective clarificatory amendments now under consideration of Parliament will not be used to reopen any cases where assessment orders have already been finalized. I have asked the Central Board of Direct taxes to issue a policy circular to clearly state this position after the passage of the Finance Bill.
Extract From FM Budget speech dated 7-5-2012 on Finance Bill, 2012