What is the time limit for making the assessment under section 147 i.e. income escaping assessment?

Ans.  As per section 153, the time limit for making assessment under section 147 is:-

1. Within 9 months from the end of the financial year in which the notice under section 148 was served (if notice is served before 01-04-2019).

2. 12 months from the end of the financial year in which notice under section 148 is served (if notice is served on or after 01-04-2019).

Note: If reference is made to TPO, the period available for assessment shall be extended by 12 months