TMI BlogAmendment of section 153B.X X X X Extracts X X X X X X X X Extracts X X X X ..... r the 1st day of April, 2005 but before the 1st day of April, 2009 shall be substituted; (iii) after the third proviso, the following proviso shall be inserted, namely: Provided also that in case where the last of the authorisations for search under section 132 or for requisition under section 132A was executed during the financial year commencing on the 1 st day of April, 2009 or any subsequent financial year and during the course of the proceedings for the assessment or reassessment of total income, a reference under sub-section (1) of section 92CA (i) was made before the 1st day of July, 2012, but an order under sub-section (3) of section 92CA has not been made before such date; or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (ii) of the second proviso, be the period of thirty-six months from the end of the financial year in which the last of the authorisations for search under section 132 or for requisition under section 132A was executed or twenty-four months from the end of the financial year in which books of account or documents or assets seized or requisitioned are handed over under section 153C to the Assessing Officer having jurisdiction over such other person, whichever is later. ; (II) in the Explanation, (a) in clause (viii), for the words six months , the words one year shall be substituted with effect from the 1st day of July, 2012; (b) after clause (viii) and before the words shall b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... foresaid Explanation so as to extend the period specified therein from six months to one year. These amendments will take effect from 1st July, 2012. It is proposed to insert a new clause (ix) in the Explanation of the aforesaid section so as to provide for exclusion of time period starting from receipt of reference by the Commissioner under sub-section (1) of newly inserted section 144BA and ending on date on which a direction under sub-section (3) or sub-section (6) or an order under sub-section (5) of newly inserted section 144BA is received by the Assessing Officer. This amendment will take effect from 1st April, 2013 and will, accordingly, apply in relation to the assessment year 2013-2014 and subsequent assessment years. - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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