Period of limitation to exclude certain period - Explanation 1 to Sec 153 - Income Tax - Ready Reckoner - Income Tax

Period of limitation to exclude certain period - Explanation 1 to Section 153 (i) the time taken in reopening the whole or any part of the proceeding or in giving an opportunity to the assessee to be re-heard under the proviso to section 129 ; or (ii) the period during which the assessment proceeding is stayed by an order or injunction of any court; or (iii) In the contravention of the provision of section 10(21)/(22B)/(23A)/(23B) (a) the period commencing from the date on which the Assessing Officer intimates the Central Government or the prescribed authority, as required under clause (i) of the first proviso to section 143(3) , and (b) the period ending with the date on which the copy of the order withdrawing the approval or rescinding the notification, as the case may be, under those clauses is received by the Assessing Officer; or (iv) Direction to get account audited or inventory value u/s 142(2A) (a) the period commencing from the date on which the Assessing Officer directs the assessee to get his accounts audited [ or inventory valued ] (inserted by F.A. 2023 ) under section 142(2A) and (b) ending with (a) the last date on which the assessee is required to furnish a report of such audit or inventory valued under that section 142(2A); or (b) where such direction is challenged before a court , ending with the date on which the order setting aside such direction is received by the Principal Commissioner or Commissioner, if such direction is challenged before a court. (v) Assessing Officer makes a reference to the Valuation Officer under section 142A(1) (a) the period commencing from the date on which the Assessing Officer makes a reference to the Valuation Officer under section 142A(1) and (b) the period ending with the date on which the report of the Valuation Officer is received by the Assessing Officer. (vi) Where the assessee furnished declaration claiming that any question of law arising in his case for an assessment year which is pending before the A.O. or any appellate authority is identical with a question of law arising in his case for another A.Y. which is pending before the High court or Supreme court (a) the period (not exceeding 60 days) commencing from the date on which the A.O. received the declaration under section 158A(1) and (b) the period ending with the date on which the order under section 158A(3) . (vii) in a case where an application made before the Income-tax Settlement Commission is rejected by it or is not allowed to be proceeded with by it, (a) the period commencing from the date on which an application is made before the Settlement Commission under section 245C and (b) the period ending with the date on which the order under section 245D(1) is received by the Principal Commissioner or Commissioner under section 245D(2) . (viii) Where an application is made before the board for advance Ruling u/s 245Q(1) (a) the period commencing from the date on which an application is made before the AAR or before the Board for Advance Rulings of section 245Q(1) and (b) the period ending with the date on which the order rejecting the application is received by the Principal Commissioner or Commissioner under section 245R(3) . (ix) Where an application is made before the board for advance Ruling u/s 245Q(1) (a) the period commencing from the date on which an application is made before the AAR or before the Board for Advance Rulings of section 245Q(1) and (b) the period ending with the date on which the advance ruling pronounced by it is received by the Principal Commissioner or Commissioner under section 245R(7) . (x) Where reference or first of the references for exchange of information is made by an authority (a) the period commencing from the date on which a reference or first of the references for exchange of information is made by an authority competent under an agreement referred to in section 90 or section 90A and (b) the period ending with the date on which the information requested is last received by the Principal Commissioner or Commissioner or a period of one year, whichever is less . (xi) Where a reference made by A.O. u/s 144BA(1) to Principal Commissioner or commissioner at any stage of assessment or reassessment proceedings on the basis of material evidence available to declare an arrangement as IAA and determine its consequences (a) the period commencing from the date on which a reference for declaration of an arrangement to be an impermissible avoidance arrangement is received by the Principal Commissioner or Commissioner under section 144BA(1) and (b) the period ending on the date on which a direction under section 144BA(3) or (6) or an order under section 144BA(5) received by the Assessing Officer. (xii) Where the books of account or other documents, or any money, bullion, jewellery or other valuable article or thing seized under section 132 or requisitioned under section 132A as the case may be, are handed over by the authorising officer to the assessing officer having jurisdication (a) the period commencing from the date on which a search is initiated under section 132 or a requisition is made under section 132A and (b) the period ending on the date on which the books of account or other documents, or any money, bullion, jewellery or other valuable article or thing seized under section 132 or requisitioned under section 132A , as the case may be, are handed over to the Assessing Officer having jurisdiction over the assessee,- in whose case such search is initiated under section 132 or such requisition is made under section 132A ; or to whom any money, bullion, jewellery or other valuable article or thing seized or requisitioned belongs to; or to whom any books of account or documents seized or requisitioned pertains or pertains to, or any information contained therein, relates to. Note - Such period should not be more than 180 days. (xiii) Where the A.O. is satisfied that any fund or institution or trust or any university or other educational institution hospital or other medical hospital referred to in clause (ii) or clause (iii) of the fifteenth proviso to section 10(23C) , section 12AB(4)(ii) or (iii) (a) the period commencing from the date on which the Assessing Officer makes a reference to the Principal Commissioner or Commissioner under the second proviso to section 143(3) and (b) the period ending with the date on which the copy of the order under clause (ii) or clause (iii) of the fifteenth proviso to section 10(23C) , section 12AB(4)(ii) or (iii) , as the case may be, is received by the Assessing Officer.