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EXCEPTIONS TO THE TIME LIMITS GIVEN IN SECTION 149(1)

Income Tax - Return of Income and Assessment Procedure - 25 - FIRST PROVISO TO SECTION 147 Where an assessment has been made earlier under section 143(3) or under section 147, then the notice under section 148 shall not be issued after the expiry of 4 years from the end of the relevant assessment year if both the following conditions are satisfied. Assessee has filed return of income which he was required to furnish under any provision of Income Tax Act, AND Assessee has disclosed fully and trul .....

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he person to whom a notice under section 148 is to be issued is a person treated as an agent of the non-resident under section 163 and the assessment or reassessment is to be made on him as the agent of the non-resident, then the notice under section 148 shall not be issued after the expiry of 6 years from the end of the relevant Assessment Year. SECTION 150- NO TIME LIMIT FOR ISSUE OF NOTICE Notwithstanding anything contained in section 149, a notice under section 148 may be issued at any time .....

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an assessment or re-assessment or re-computation in consequence of or to give effect to any finding or direction contained in an order passed: By any authority in any proceeding under this Act by way of appeal or revision under sections 250/254/260A/262/263/264, or By a court in any proceeding under any other law. It may be noted that a judgment given by a Court under any other law can also lead to reassessment and the time limit prescribed under section 149 shall not be applicable. In other wo .....

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