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TMI BlogTime limit for completion of assessment, reassessment and re-computation - Section 153X X X X Extracts X X X X X X X X Extracts X X X X ..... ommencing from 01-04-2019 12 months from end of RAY. 12 Months d. In respect of an order of assessment relating to AY commencing from 01-04-2020 18 months from end of RAY. 18 Months e. In respect of an order of assessment relating to AY commencing from 01-04-2021 9 months from end of RAY. [ Amendment made by F.A. 2022 ] 9 Months f. In respect of an order of assessment relating to AY commencing from 01-04-2022 9 months from end of RAY. [ Inserted by F.A. 2023 ] 12 Months 2. Order of Assessment u/s 143 / 144 (a) Where a return is made u/s 139(8A) Updated Return Time limit for completion of an assessment order u/s 143(3) / 144 shall be at any time before expiry of 9 months 12 months [Amended by FA, 2023 ] from end of the financial year which s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or reassessment, as the case may be, under the said sub-sections shall, [ inserted by FA, 2023 , w.e.f. 01.04.2023 ] Extended by a. in a case where such search is initiated under section 132 or such requisition is made under section 132A ; 12 Months b. in the case of an assessee, to whom any money, bullion, jewellery or other valuable article or thing seized or requisitioned belongs to; 12 Months c. in the case of an assessee, to whom any books of account or documents seized or requisitioned pertains or pertain to, or any information contained therein, relates to; 12 Months 6. Section 153(4) Where a reference u/s 92CA(1) is made during the course of the proceeding for the assessment or reassessment, the period available for completion of as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 262 or 263 or 264 or in a order of any court in a proceeding otherwise than by way of appeal or reference under this Act. a. Nothing contained in Sections 153(1), (1A) and (2) shall apply to the following classes of assessments, reassessments and re-computation which may, subject to the provisions of Sections 153(3), (5) and (5A), be completed - on or before the expiry of 12 months from the end of the month in which such order is received or passed by the Principal Commissioner or Commissioner, as the case may be; or 12 Months Section 153(6) (ii) - Where, in the case of a firm, an assessment is made on a partner of the firm in consequence of an assessment made on the firm under section 147 - on or before the expiry of 12 months from the end ..... X X X X Extracts X X X X X X X X Extracts X X X X
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