TMI BlogAssessment in case of search or requisitionX X X X Extracts X X X X X X X X Extracts X X X X ..... each assessment year falling within six assessment years 7 [ and for the relevant assessment year or years ] referred to in clause (b), in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed and the provisions of this Act shall, so far as may be, apply accordingly as if such return were a return required to be furnished under section 139; (b) assess or reassess the total income of six assessment years immediately preceding the assessment year relevant to the previous year in which such search is conducted or requisition is made 8 [ and of the relevant assessment year or years ] : Provided that the Assessing Officer shall assess or reassess the total income in r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... relevant assessment year or in aggregate in the relevant assessment years; (b) the income referred to in clause (a) or part thereof has escaped assessment for such year or years; and (c) the search under section 132 is initiated or requisition under section 132A is made on or after the 1st day of April, 2017. Explanation 1. For the purposes of this sub-section, the expression relevant assessment year shall mean an assessment year preceding the assessment year relevant to the previous year in which search is conducted or requisition is made which falls beyond six assessment years but not later than ten assessment years from the end of the assessment year relevant to the previous year in which search is conducted or requisitio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the words referred to in this section by the Finance Act, 2008, w.e.f. 1-6-2003. 4. Inserted by the Finance Act, 2008, w.e.f. 1-6-2003. 5. Inserted vide Finance Act, 2012, w.e.f. 01-07-2012, 6. Inserted vide THE FINANCE (No. 2) ACT, 2014 w.e.f. 1st day of June, 2013 7. Inserted vide THE FINANCE ACT, 2017 w.e.f. 1st day of April, 2017. 8. Inserted vide THE FINANCE ACT, 2017 w.e.f. 1st day of April, 2017. 9. Inserted vide THE FINANCE ACT, 2017 w.e.f. 1st day of April, 2017. 10.Inserted vide THE FINANCE ACT, 2017 w.e.f. 1st day of April, 2017. 11. Inserted vide THE FINANCE ACT, 2021 dated 28-03-2021 w.e.f. 01-04-2021 - - statute, statutory provisions legislation, law, enactment, Acts, Rules, R ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
