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CERTAIN CASES WHERE THERE IS NO TIME LIMIT FOR COMPLETION OF ASSESSMENT OR REASSESSMENT - SECTION 153(3)

Income Tax - Return of Income and Assessment Procedure - 29 - CERTAIN CASES WHERE THERE IS NO TIME LIMIT FOR COMPLETION OF ASSESSMENT OR REASSESSMENT SECTION 153(3) As per section 153(3), the provisions of section 153(1) and (2) shall not apply to the following cases of assessments, reassessments and recomputation which may, subject to the provisions of section 153(2A) be competed at any time:- Where the assessment or reassessment is made in consequence of or to give effect to the finding or dir .....

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h assessment will be 9 months. Where the assessment or reassessment is set aside by High Court or Supreme Court and the direction was given for fresh assessment, section 153(2A) shall not be applicable instead section 153(3) shall be applicable and there shall be no time limit for making fresh assessment. Explanation 1 to section 153:- The time periods relating to assessment or reassessment referred u/s 153 shall be increased by the following time periods: The time taken in reopening the whole o .....

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is received by the Assessing Officer; The period commencing from the date on which the Assessing Officer directs the assessee to get his accounts audited u/s 142()2A and Ending with the last date on which assessee is required to furnish a report of audit u/s 142()2A; or Where such direction is challenged before a Court, ending with the date on which the order setting aside such direction is received by the Commissioner of Income-Tax. The period (not exceeding sixty days) commencing from the dat .....

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