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TMI BlogTime limit for completion of assessment under section 153A.X X X X Extracts X X X X X X X X Extracts X X X X ..... or reassessment shall be the period as referred to in clause (a) or clause (b) of this sub-section or nine months from the end of the financial year in which books of account or documents or assets seized or requisitioned are handed over under section 153C to the Assessing Officer having jurisdiction over such other person, whichever is later: 28[Provided further that in the case where the last of the authorisations for search under section 132 or for requisition under section 132A was executed during the financial year commencing on the 1st day of April, 2018,- (i) the provisions of clause (a) or clause (b) of this sub-section shall have effect, as if for the words "twenty-one months", the words "eighteen months" had been substituted; (ii) the period of limitation for making the assessment or reassessment in case of other person referred to in section 153C, shall be the period of eighteen months from the end of the financial year in which the last of the authorisations for search under section 132 or for requisition under section 132A was executed or twelve months from the end of the financial year in which books of account or documents or assets seized or requisitioned are h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es for the assessment year commencing on the 1st day of April, 2021 shall be made on or before the 30th day of September, 2022.] (2) The authorisation referred to in clause (a) and clause (b) of sub-section (1) shall be deemed to have been executed,- (a) in the case of search, on the conclusion of search as recorded in the last panchnama drawn in relation to any person in whose case the warrant of authorisation has been issued; or (b) in the case of requisition under section 132A, on the actual receipt of the books of account or other documents or assets by the Authorised Officer. (3) The provisions of this section, as they stood immediately before the commencement of the Finance Act, 2016, shall apply to and in relation to any order of assessment or reassessment made before the 1st day of June, 2016. 35[(4) Nothing contained in this section shall apply to any search initiated under section 132 or requisition made under section 132A on or after the 1st day of April, 2021.] 29[ Provided that where a notice under section 153A or section 153C has been issued prior to the 1st day of June, 2016 and the assessment has not been completed by such date due to exclusion of time refer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... received by the Principal Commissioner or Commissioner under sub-section (7) of section 245R; or (viii) the period commencing from the date of annulment of a proceeding or order of assessment or reassessment referred to in sub-section (2) of section 153A, till the date of the receipt of the order setting aside the order of such annulment, by the Principal Commissioner or Commissioner; or (ix) 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 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; or (x) 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 sub-section (1) of section 144BA and ending on the date on which a direction under sub-section (3) or sub-section (6) or an order under sub-section (5) of the said section is received by the 36[Assessing Officer; or] ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r; and where such period of limitation is less than one year, it shall be deemed to have been extended to one year.] ******** Notes :- 1. Inserted by the Finance Act, 2005, w.r.e.f. 1-6-2003. 2. Inserted by the Finance Act, 2006, w.e.f. 1-6-2006. 3. Inserted by the Finance Act, 2007, w.e.f.1-6-2007. 4. Inserted by the Finance (No. 2) Act, 2004, w.e.f. 1-10-2004. 5. Inserted by the Finance (No. 2) Act, 2004, w.e.f. 1-10-2004. 6. Words "this section" should be read as "sub-section(1)". 7. Substituted for"section 153A", by Finance Act, 2008, w.e.f. 1-6-2003. 8. Inserted by the Finance Act, 2008, w.e.f. 1-6-2003. 9. Substituted for "clause (a) or clause (b) of this section6", by Finance Act, 2008, w.e.f. 1-6-2003. 10. Inserted vide Finance Act, 2011, w.e.f. 1.6.2011 11. Inserted vide Finance Act, 2011, w.e.f. 1.6.2011 12. Substituted vide Finance Act, 2012, w.e.f. 01-07-2012, before it was read as:- "on the 1st day of April, 2004 or any subsequent financial year" 13. Substituted vide Finance Act, 2012, w.e.f. 01-07-2012, before it was read as:- "on the 1st day of April, 2005 or any subsequent financial year" 14 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he financial year in which books of account or documents or assets seized or requisitioned are handed over under section 153C to the Assessing Officer having jurisdiction over such other person, whichever is later.]" 19. Substituted vide Finance Act, 2013, w.e.f. 1st day of June, 2013, before it was read as:- "(ii) the period commencing from the day on which the Assessing Officer directs the assessee to get his accounts audited under sub-section (2A) of section 142 and ending on the day on which the assessee is required to furnish a report of such audit under that sub-section; or" 20. Substituted vide Finance Act, 2013, w.e.f. 1st day of June, 2013, before it was read as:- "11[(viii) the period commencing from the date on which a reference for exchange of information is made by an authority competent under an agreement referred to in section 90 or section 90A and ending with the date on which the information so requested is received by the Commissioner or a period of 16[one year], which-ever is less,]". 21. Omitted vide Finance Act, 2013, w.e.f. 1st day of April, 2013, before it was read as:- "14[(ix) the period commencing from the date on which a reference for declara ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have effect as if for the words "two years" the words "twenty-one months" had been substituted; (ii) the period of limitation for making the assessment or re-assessment in case of other person referred to in section 153C, shall be the period of twenty-one months from the end of the financial year in which the last of the authorisations for search under section 132 or for requisition under section 132A was executed or nine months from the end of the financial year in which books of account or documents or assets seized or requisitioned are handed over under section 153C to the Assessing Officer having jurisdiction over such other person, whichever is later :] 3[Provided also that in case where the last of the authorisations for search under section 132 or for requisition under section 132A was executed during the financial year commencing 13[on or after the 1st day of April, 2005 but before the 1st day of April, 2009] and during the course of the proceedings for the assessment or reassessment of total income, a reference under sub-section (1) of section 92CA- (i) was made before the 1st day of June, 2007 but an order under sub-section (3) of section 92CA ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or requisition under section 132A was executed during the financial year commencing on the 1st day of April, 2009 or any subsequent financial year and during the course of the proceeding for the assessment or reassessment of total income, in case of other person referred to in section 153C, a reference under sub-section (1) of section 92CA is made, the period of limitation for making the assessment or reassessment in case of such other person shall, notwithstanding anything contained in clause (ii) of the second proviso, be the period of thirty-six months from the end of the financial year in which the last of the authorisations for search under section 132 or for requisition under section 132A was executed or twenty-four months from the end of the financial year in which books of account or documents or assets seized or requisitioned are handed over under section 153C to the Assessing Officer having jurisdiction over such other person, whichever is later.] Explanation.-In computing the period of limitation for the purposes of this section,- (i) the period during which the assessment proceeding is stayed by an order or injunction of any court; or 19[(ii) the period commencing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation is made by an authority competent under an agreement referred to in section 90 or section 90A and ending with the date on which the information requested is last received by the 25[Principal Commissioner or] Commissioner or a period of one year, whichever is less, 22[or]] 21[(ix) ***] 23[(ix) 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 25[Principal Commissioner or] Commissioner under sub-section (1) of section 144BA and ending on the date on which a direction under sub-section (3) or sub-section (6) or an order under sub-section (5) of the said section is received by the Assessing Officer,] shall be excluded : Provided that where immediately after the exclusion of the aforesaid period, the period of limitation referred to in 9[clause (a) or clause (b) of this sub-section] available to the Assessing Officer for making an order of assessment or reassessment, 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. (2) The authorisation r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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