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CBDT gives 2 months extension to I-T Dept to finalise assessment in demonetisation cases

The CBDT on Friday said that it has extended the deadline by another two months till September to complete the final assessment of about 87,000 entities across the country who made suspicious deposits post-demonetisation. The CBDT said the extension of time is being granted after considering "various difficulties being faced by assessing officers related to completion of assessments in Operation Clean Money (OCM) cases" by July end. CBDT had asked the assessing officers to use the 'best judgement assessment' procedure as stipulated under Section 144 of the I-T Act to finalise these 87,000 cases. 

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