TMI BlogAmendment of section 153.X X X X Extracts X X X X X X X X Extracts X X X X ..... ers on or after the 1st day of April, 2005 but before the 1st day of April, 2009 shall be substituted; (c) after the second proviso, the following proviso shall be inserted, namely: Provided also that in case the assessment year in which the income was first assessable is the assessment year commencing on the 1st day of April, 2009 or any subsequent assessment year and during the course of the proceeding for the assessment of total income, a reference under sub-section (1) of section 92CA (i) is made before the 1st day of July, 2012, but an order under sub-section (3) of that section has not been made before such date; or (ii) is made on or after the 1st day of July, 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (a) in the second proviso, after the words, figures and letters the 1st day of April, 2005 , the words, figures and letters but before the 1st day of April, 2011 shall be inserted; (b) in the third proviso, after the words, figures and letters the 1st day of April, 2006 , the words, figures and letters but before the 1st day of April, 2010 shall be inserted; (c) after the third proviso, the following proviso shall be inserted, namely: Provided also that where the order under section 254 is received by the Chief Commissioner or Commissioner or, as the case may be, the order under section 263 or section 264 is passed by the Commissioner on or after the 1st day of A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g provisions of the aforesaid section 153, inter alia, provide for time limit for completion of assessments and reassessments of total income by the Assessing Officer. It is proposed to amend the aforesaid section so as to revise the time limits wherever specified for completion of assessments and reassessments. The revised time limits shall be the time limits specified under the aforesaid section, as respectively increased by three months. The existing provisions contained in Explanation 1 to the aforesaid section 153 provide that certain periods specified therein are to be excluded while computing the period of limitation laid down in the said section for completion of assessments and reassessments. It is proposed to amend clause ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
