Time limit for assessments updated with shorter deadlines and special extensions for search and requisition cases. The substituted section 153B shortens and redefines limitation periods for assessments arising from searches and requisitions and for assessments of other persons under section 153C, prescribing the period from the end of the financial year in which the last authorisation for search or requisition was executed or from handover of seized/requisitioned materials, provides an extension where a transfer pricing reference is made, sets deeming rules for execution of authorisations, preserves prior law for earlier orders, enumerates specific periods to be excluded in computing limitation, and supplies minimum-period extension rules; effective from the stated commencement.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Time limit for assessments updated with shorter deadlines and special extensions for search and requisition cases.
The substituted section 153B shortens and redefines limitation periods for assessments arising from searches and requisitions and for assessments of other persons under section 153C, prescribing the period from the end of the financial year in which the last authorisation for search or requisition was executed or from handover of seized/requisitioned materials, provides an extension where a transfer pricing reference is made, sets deeming rules for execution of authorisations, preserves prior law for earlier orders, enumerates specific periods to be excluded in computing limitation, and supplies minimum-period extension rules; effective from the stated commencement.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
