9911796707
TMI BlogAmendment of section 153.X X X X Extracts X X X X X X X X Extracts X X X X ..... substituted; (c) after the second proviso, the following proviso shall be inserted, namely: Provided also that in case the assessment year in which the income was first assessable is the assessment year commencing on the 1st day of April, 2009 or any subsequent assessment year and during the course of the proceeding for the assessment of total income, a reference under sub-section (1) of section 92CA (i) is made before the 1st day of July, 2012, but an order under sub-section (3) of that section has not been made before such date; or (ii) is made on or after the 1st day of July, 2012, the provisions of clause (a) shall, notwithstanding anything contained in the first proviso, have effect as if for the words two years , the words three year ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ril, 2010 shall be inserted; (c) after the third proviso, the following proviso shall be inserted, namely: Provided also that where the order under section 254 is received by the Chief Commissioner or Commissioner or, as the case may be, the order under section 263 or section 264 is passed by the Commissioner on or after the 1st day of April, 2010, and during the course of the proceedings for the fresh assessment of total income, a reference under sub-section (1) of section 92CA (i) is made before the 1st day of July, 2012, but an order under sub-section (3) of section 92CA has not been made before such date; or (ii) is made on or after the 1st day of July, 2012, the provisions of this sub-section shall, notwithstanding anything contained i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that certain periods specified therein are to be excluded while computing the period of limitation laid down in the said section for completion of assessments and reassessments. It is proposed to amend clause (viii) of the aforesaid Explanation so as to extend the period specified therein from six months to one year. These amendments will take effect from 1st July, 2012. It is proposed to insert a new clause (ix) in Explanation 1 of the aforesaid section 153 so as to provide for exclusion of time period starting from receipt of reference by the Commissioner under sub-section (1) of newly inserted section 144BA and ending on date on which a direction under sub-section (3) or sub-section (6) or an order under sub-section (5) of newly inserted ..... X X X X Extracts X X X X X X X X Extracts X X X X
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