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of <h1>Section 10A of Interest-tax Act Sets 2-Year Deadline for Assessments; Exceptions Include Court Stays and Reassessments.</h1> Section 10A of the Interest-tax Act, inserted by the Finance (No. 2) Act, 1991, establishes time limits for completing assessments and reassessments. Assessments under section 8 must be completed within two years from the end of the relevant assessment year, while those under section 10 must be done within two years from the end of the financial year in which the notice was served. Exceptions exist for fresh assessments following orders under sections 15, 16, 19, or 20, which have a two-year limit from the relevant financial year. Certain exclusions apply for computing limitation periods, including time taken for reopening proceedings or court-ordered stays.
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