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TIME-LIMIT FOR COMPLETION OF ASSESSMENT UNDER SECTION 153A SECTION - 153B

Income Tax - Search and Seizure - Procedure, Consequences and Impact - 09 - SECTION 153B - TIME LIMIT FOR COMPLETION OF ASSESSMENT (Substituted by FA, 2016, w.e.f. 1-6-2016) Normal Period of Assessment/ Reassessment u/s 153B. Period of Assessment/ Reassessment where a reference has been made to Transfer Pricing Officer u/s 92CA in course of proceedings u/s 153A. In respect of each assessment year falling within six assessment years and for the relevant assessment year or years u/s 153A(1)(b) Sec .....

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t of the authorisations for search u/s 132 or for requisition u/s 132A was executed Same as above. TIME LIMIT FOR COMPLETION OF ASSESSMENT OR REASSESSMENT UNDER SECTION 153A IN CASE OF A PERSON REFFERED TO IN SECTION 153C The time limit shall be- the period available to make assessments or reassessments in case of person on whom search is conducted i.e. 21 months, or 9 months from the end of the financial year in which books of account or documents or assets seized or requisitioned are handed ov .....

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executed or 12 months from the end of the FY in which books of account or documents or assets seized or requisitioned are handed over u/s 153C to the Assessing Officer Provided further that in the case where the last of the authorisations for search u/s 132 or for requisition u/s 132A was executed during the financial year commencing on 1-4-2019,- [w.e.f. 1-4-2017] the period shall be 12 months the period of limitation u/s 153C shall be 12 months or from the end of the FY in which the last of th .....

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ilable for making an order of assessment or reassessment shall be extended by twelve months [w.e.f. 1-4-2017] Provided also that in case where during the course of the proceedings for the assessment or reassessment of total income in case of other person referred to in section 153C, a reference u/s 92CA(1) is made, the period available for making an order of assessment or reassessment in case of such other person shall be extended by twelve months [w.e.f. 1-4-2017] (3)The provisions of this sect .....

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titution by the Finance Act, 2016. [Inserted by FA, 2017, w.r.e.f. 1-6-2016] Period of limitation to exclude certain period: the period during which the assessment proceeding is stayed by an order or injunction of any court; the period commencing from the date on which the Assessing Officer directs the assessee to get his accounts audited u/s 142(2A) the period commencing from the date on which the Assessing Officer makes a reference to the Valuation Officer u/s 142A(1) and ending with the date .....

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ion 245C and ending with the date on which the order u/s 245D(1) is received by the Principal Commissioner or Commissioner he period commencing from the date on which an application is made before the Authority for Advance Rulings under sub-section (1) of section 245Q and ending with the date on which the order rejecting the application is received by the Principal Commissioner or Commissioner under sub-section (3) of section 245R; the period commencing from the date on which an application is m .....

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