9911796707
TMI BlogTime limit for completion of block assessmentX X X X Extracts X X X X X X X X Extracts X X X X ..... d, any reference under sub-section (1) of section 92CA is made, the period available for making an order of assessment or reassessment in respect of the block period shall be extended by twelve months. (2) In computing the period of limitation under sub-section (1), the period (not exceeding one hundred and eighty days) commencing from the date on which a search is initiated under section 132 or a requisition is made under section 132A and ending on the date on which the books of account, or other documents or money or bullion or 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 whos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 (iii) the time taken in reopening the whole or any part of the proceeding or giving an opportunity to the assessee to be re-heard under the proviso to section 129; or (iv) the period commencing from the date on which the Assessing Officer directs the assessee to get his accounts audited or inventory valued under sub-section (2A) of section 142 and (a) ending with the last date on which the assessee is required to furnish a report of such audit or inventory valuation under that sub-section; or (b) where such direction is challenged before a court, e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 Assessing Officer; or (ix) the period commencing from the date on which an application is made before the Authority for Advance Rulings or before the Board 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; or (x) the period commencing from the date on which an application is made before the Autho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unction of any court, or (ii) 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, shall be excluded. 3. Inserted by the Finance (No. 2) Act, 1998, w.r.e.f. 1-7-1995. 4. Inserted vide THE FINANCE (No. 2) ACT, 2014 w.e.f. 1st day of June, 2013 5. Substituted vide Section 49 of the Finance (No. 2) Act, 2024 dated 16-08-2024 w.e.f. 01-09-2024 before it was read as, Time limit for completion of block assessment. 158BE. 1 [(1) The order under section 158BC shall be passed- ( a ) within one year from the end of the month in which the last of the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion of any court; or ( 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 ( iii ) the time taken in reopening the whole or any part of the proceeding or giving an opportunity to the assessee to be re-heard under the proviso to section 129; or ( iv ) in a case where an application made before the Settlement Commission under section 245C is rejected by it or is not allowed to be proceeded with by it, the period commencing on the date on which such application is made and ending with the date on which the order under sub-s ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
