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TMI BlogTime limit for completion of block assessmentX X X X Extracts X X X X X X X X Extracts X X X X ..... t block period, any reference under sub-section (1) of section 92CA is made, the period available for making an order of assessment or reassessment in respect of the block period shall be extended by twelve months. 8[Provided further that in a case where in pursuance to fifth proviso to clause (a) of sub-section (1) of section 158BC, the time allowed under the said clause for furnishing return is extended by a further period of thirty days, the provisions of this sub-section shall have effect, as if for the words "twelve months", the words "thirteen months" had been substituted.] (2) In computing the period of limitation under sub-section (1), the period (not exceeding one hundred and eighty days) commencing from the date on which a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... months. 10[Provided further that in a case where in pursuance to fifth proviso to clause (a) of sub-section (1) of section 158BC, the time allowed under the said clause for furnishing return is extended by a further period of thirty days, the provisions of this sub-section shall have effect, as if for the words "twelve months", the words "thirteen months" had been substituted.] (4) In computing the period of limitation under this section, the following period shall be excluded,- 11[(i) the period commencing on the date on which stay on assessment proceedings was granted by an order or injunction of any court and ending on the date on which certified copy of the order vacating the stay was received by the jurisdictional Principal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... authority, the contravention of the provisions of clause (21) or clause (22B) or clause (23A) or clause (23B) of section 10, under sub-clause (i) of the first proviso to sub-section (3) of section 143 and ending with the date on which the copy of the order withdrawing the approval or rescinding the notification, as the case may be, under those clauses is received by the Assessing Officer; or (vii) the period commencing from the date on which the Assessing Officer makes a reference to the Principal Commissioner or Commissioner under the second proviso to sub-section (3) of section 143 and ending with the date on which the copy of the order under clause (ii) or clause (iii) of the fifteenth proviso to clause (23C) of section 10 or clause (i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on (1) of section 158BC is less than sixty days, such remaining period shall be extended to sixty days and the aforesaid period of limitation shall be deemed to be extended accordingly: Provided further that where after extension of the period referred to in the first proviso, the period of limitation for making an order of assessment or reassessment, as the case may be, expires before the end of a month, such period shall be extended to the end of such month.] **************** NOTES:- 1. Substituted by the Income-tax (Amendment) Act, 1997, w.e.f. 1-1-1997. 2. Substituted by the Finance Act, 2002, w.e.f. 1-6-2002. Prior to its substitution, Explanation 1, as inserted by the Finance (No. 2) Act, 1996, w.r.e.f. 1- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e may be, was executed in cases where a search is initiated or books of account or other documents or any assets are requisitioned on or after the 1st day of January, 1997. (2) The period of limitation for completion of block assessment in the case of the other person referred to in section 158BD shall be- (a) one year from the end of the month in which the notice under this Chapter was served on such other person in respect of search initiated or books of account or other documents or any assets requisitioned after the 30th day of June, 1995, but before the 1st day of January, 1997; and (b) two years from the end of the month in which the notice under this Chapter was served on such other person in respect of search initiated or books ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and the aforesaid period of limitation shall be deemed to be extended accordingly.] 3[Explanation 2.-For the removal of doubts, it is hereby declared that the authorisation referred to in sub-section (1) shall be deemed to have been executed,- (a) in the case of search, on the conclusion of search as recorded in the last panchnama drawn in relation to any person in whose case the warrant of authorisation has been issued; (b) in the case of requisition under section 132A, on the actual receipt of the books of account or other documents or assets by the Authorised Officer.]" 6. Substituted vide Section 53 of the Finance Act, 2025 dated 29-03-2025 w.e.f. 01-09-2024 before it was read as, "month" 7. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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