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TMI BlogDefinitionsX X X X Extracts X X X X X X X X Extracts X X X X ..... ate on which a notice under section 148 is issued for any assessment year; (b) from the date of issuance of the notice referred to in sub-clause (a), for any other assessment year or assessment years for which a notice under section 148 has not been issued, but such notice could have been issued on such date, if the return of income for the other assessment year or assessment years has been furnished under section 139 or in response to a notice under section 142;] (ii) 6[***] 11[(iii) a proceeding for making fresh assessment in pursuance of an order under section 254 or section 263 or section 264, setting aside or cancelling an assessment shall be deemed to have commenced from the date on which such order, setting aside or cancelling ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under section 245C and which fulfils the following conditions, namely:- (i) it was not declared invalid under sub-section (2C) of section 245D; and (ii) no order under sub-section (4) of section 245D was issued on or before the 31st day of January, 2021 with respect to such application;] (f) "Settlement Commission" means the Income-tax Settlement Commission constituted under section 245B; (g) "Vice-Chairman" means a Vice-Chairman of the Settlement Commission 4[and includes a Member who is senior amongst the Members of a Bench].] ------------------ Notes :- 1. Chapter XIX-A, consisting of sections 245A to 245M, inserted by the Taxation Laws (Amendment) Act, 1975, w.e.f. 1-4-1976. 2. Substituted by the Finance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erred to in clause (b) of sub-section (1) of section 153B in case of a person referred to in section 153A or section 153C;" 6. In the Explanation, clause (ii) has been omitted vide Finance Act, 2010, with effect from the 1st day of June, 2010, before it was read as, "(ii) a proceeding for assessment or reassessment referred to in clause (ii) or clause (iii) of the proviso shall be deemed to have commenced on the date of initiation of the search under section 132 or requisition under section 132A;" 7. After clause (iii), the clause (iiia) has been inserted, vide Finance Act, 2010, with effect from the 1st day of June 2010. 8. In clause (iv), for the words, brackets and figures "clause (ii) or clause (iii) or clause (iv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... before it was read as, " (i) a proceeding for assessment or reassessment or recomputation 10[under section 147] shall be deemed to have commenced from the date on which a notice under section 148 is issued;"
14. Substituted vide THE FINANCE ACT, 2015 w.e.f. 1st day of June, 2015, before it was read as, "from the 1st day of the assessment year and concluded on the date on which the assessment is made"
15. Substituted vide THE FINANCE ACT, 2017 w.e.f. 1st day of April, 2017, before it was read as, "two years from the end of the relevant assessment year"
16. Inserted vide THE FINANCE ACT, 2021 dated 28-03-2021 w.e.f. 01-02-2021
17. Inserted vide THE FINANCE ACT, 2021 dated 28-03-2021 w.e.f. 01-02-2021
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