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TMI BlogTime limit for completion of assessment, reassessment and recomputation.X X X X Extracts X X X X X X X X Extracts X X X X ..... ent order under section 270(10) or 271, where an updated return of income is furnished under section 263(6). End of the financial year in which such updated return was furnished. One year. 3. Assessment order under section 270(10) or 271, where return is furnished in consequence of order under section 239(3)(b). End of the financial year in which such return was furnished. One year. 4. Assessment, reassessment or recomputation order under section 279. End of the financial year in which notice under section 280 was served. One year. 5. Fresh assessment order or fresh order under section 166 in pursuance to an order under section 359, or 363, or 377, or 378 setting aside or canceling an assessment order or an order under section 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o the assessee. End of the month in which order under section 359 or 363 or 365(10) or 368 is received, or order under section 377 or 378 is passed, by the jurisdictional Principal Commissioner or Commissioner. One year. 10. Order giving effect to an order under section 359 or 363 or 365(10) or 368 or 377 or 378 otherwise than by making a fresh assessment or reassessment or fresh order under section 166. End of the month in which order under section 359 or 363 or 365(10) or 368 is received, or order under section 377 or 378 is passed by the jurisdictional Principal Commissioner or Commissioner. Six months, extendable to nine months with the approval of authorities as per section 2(62) and (64) 11. Modification of assessment, reasses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er; (d) the period commencing from the date on which the Assessing Officer directs the assessee to get his accounts audited or inventory valued under section 268(5) and-- (i) ending with the last date on which the assessee is required to furnish a report of such audit or inventory valuation under that section; or (ii) where such direction is challenged before a court, ending with the date on which the order setting aside such direction is received by the Principal Commissioner or Commissioner; (e) the period commencing from the date on which the Assessing Officer makes a reference to the Valuation Officer under section 269(1) and ending with the date on which the report of the Valuation Officer is received by him; (f) the period ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... made under section 248 and ending on the date on which the seized items or the requisitioned items, are handed over to the Assessing Officer having jurisdiction over the assessee,- (i) in whose case such search is initiated under section 247 or such requisition is made under section 248; or (ii) to whom any money, bullion, jewellery, virtual digital asset or other valuable article or thing seized or requisitioned belongs to; or (iii) to whom any books of account or documents seized or requisitioned pertains or pertain to, or any information contained therein, relates to; (k) the period commencing from the date on which the Assessing Officer makes a reference to the jurisdictional Principal Commissioner or Commissioner under the sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the purposes of determining the period of limitation under sections 282, 287, 288 and 296 and for the purposes of payment of interest under section 437, this sub-section shall also apply accordingly. (7) In a case where the remaining time period for making an order of regular or reassessment, after excluding the time period specified in sub-section (3)(k), ends before the end of the month, the remaining period shall be extended to the end of such month, and the specified time limit for completion shall be deemed to have been extended accordingly. (8) For the purposes of this section and section 283, where by an order referred to in entry in sub-section (1) (Table: Sl. No. 8.A)-- (i) any income is excluded from the total income of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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