Time-limit extension for income-tax assessments increases limitation periods and adds exclusion for transfer-pricing and avoidance references. Amendments to section 153 extend limitation periods for completion of income-tax assessments and reassessments by modifying provisos in sub-sections (1), (2) and (2A) to provide for extended time where references under section 92CA are made and pending, and revise Explanation 1 by increasing an exclusion period from six months to one year and adding an exclusion for the period during which references and directions/orders under section 144BA are pending.