TMI BlogTime limit for completion of assessment and reassessmentX X X X Extracts X X X X X X X X Extracts X X X X ..... ommencing on the 1st day of April, 1988, such assessment may be made on or before the 31st day of March, 1992:] 4 [ Provided further that in case the assessment year in which the net wealth was first assessable is the assessment year 18 [ commencing on or after the 1st day of April, 2004 but before the 1st day of April, 2010 ] or any subsequent year, the provisions of this sub-section shall have effect as if for the words two years , the words twenty-one months had been substi tuted.] (2) No order of assessment or reassessment shall be made under section 17 after the expiry of 5 [one year] from the end of the financial year in which the notice under sub-section (1) of that section was served] : 6 [ Provided that whe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , 2002:] 13 [ Provided further that where the order under section 23A or section 24 is received by the Chief Commissioner or Commissioner or, as the case may be, the order under section 25 is passed by the Commissioner, on or 20 [ after the 1st day of April, 2005 but before the 1st day of April, 2011 ] , the provisions of this sub-section shall have effect as if for the words one year , the words nine months had been substituted.] (4) The provisions of sub-sections (1) and (2) shall not apply to the assessment or reassessment made on the assessee or any other person in consequence of, or to give effect to, any finding or direction contained in an order under section 23, section 24, section 25, section 27 or section 29 or in an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (1), (2) and (3) available to the Assessing Officer for making an order of assessment or reassessment, as the case may be, 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:] 17 [ Provided further that where a proceeding before the Settlement Commission abates under section 22HA, the period of limitation referred to in this section available to the Assessing Officer for making an order of assessment or reassessment, as the case may be, shall, after the exclusion of the period under sub-section (4) of section 22HA, be not less than one year; and where such period of limitation is less than one year, it shall be deemed to hav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 15, whichever is later, where the assessment year is an assessment year commencing on or after the 1st day of April, 1975. (2) No order of assessment or reassessment shall be made under section 17, ( a ) where any proceeding for an assessment or reassessment is pending on the 1st day of April, 1975, at any time after the expiration of a period of four years commencing on and from that date ; ( b ) where the assessment or reassessment is to be made in a case falling within clause ( a ) of sub-section (1) of section 17 for which a notice has been served under that sub-section on or after the 1st day of April, 1975, at any time after the expiration of a period of four years from the end of the assess ment year in which such notice was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5, or the 1st day of April, 1986, such assessment or reassessment may be completed on or before the 31st day of March, 1990, or the expiry of two years from the end of the financial year in which such notice was served, whichever is later. 7. Inserted by the Finance Act, 2006, w.e.f. 1-6-2006. 8. Omitted by the Finance Act, 2001, w.e.f. 1-6-2001. Prior to its omission, Explanation read as under: Explanation . References to section 17 in the proviso shall be construed as references to that section as it stood before amendment by the Direct Tax Laws (Amendment) Act, 1987. 9. Substituted for 23 by the Finance Act, 2001, w.e.f. 1-6-2001. 10. Substituted for two years by the Finance Act, 2001, w.e.f. 1-6-2001. Earli ..... X X X X Extracts X X X X X X X X Extracts X X X X
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