9911796707
TMI BlogTime-limit for completion of block assessment.X X X X Extracts X X X X X X X X Extracts X X X X ..... onths. (3) In computing the period of limitation under sub-section (1), the period (not exceeding one hundred eighty days) commencing from the date on which a search is initiated or a requisition is made and ending on the date on which seized or requisitioned items are handed over to the Assessing Officer having jurisdiction over the assessee shall be excluded. (4) If after exclusion of the period referred to in sub-section (3), the remaining period of limitation for completion of assessment or reassessment, expires before the end of a month, such period shall be extended to end of such month. (5) The period of limitation for completion of assessment or reassessment for the block period in the case of the other person referred to in sect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... date on which the assessee is required to furnish a report of such audit or inventory valuation under that sub-section; or (ii) where such direction is challenged before a court, ending with the date on which the certified copy of the order setting aside such direction is received by the jurisdictional 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 the Assessing Officer; (f) the period commencing from the date on which the Assessing Officer intimates the Central Government or the prescribed authority, the contravention of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner or Commissioner under section 384(8). (8) Where immediately after the exclusion of the period referred to in sub-section (7), the remaining period of limitation referred to in sub-section (1) or (5) available to the Assessing Officer for completion of assessment under section 294 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. (9) Where after extension of the period referred to in sub-section (8), the period of limitation for making an order of assessment or reassessment, expires before the end of a month, such period shall be extended to the end of such month. - Clause 296 of the Bill seeks to provide time lim ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
