Section 47 - Amendment of section 153 - Finance (No. 2) Act, 1991

47. Amendment of section 153. In section 153 of the Income-tax Act, in Explanation 1, the following proviso shall be inserted at the end, namely: Provided that where immediately after the exclusion of the aforesaid time or period, the period of limitation referred to in sub- sections (1), (2) and (2A) available to the Assessing Officer for making an order of assessment, reassessment or re-computation, as the case may be, is less than sixty days, such remaining period shall be extended to sixty days and the aforesaid period of limitation shall be deemed to be extended accordingly. .