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of <h1>Income-tax Act Section 153 Amendment: Assessment Timeline Reduced to One Year, Special Provisions for 1999-2000 Notices</h1> The amendment to section 153 of the Income-tax Act, effective June 1, 2001, modifies the timeline for assessments. Sub-section (2) changes the assessment period from two years to one year, with specific provisions for notices served between April 1, 1999, and April 1, 2000, allowing assessments until March 31, 2002. Sub-section (2A) permits fresh assessments within one year following orders under sections 250, 254, 263, or 264, with exceptions for orders received or passed between April 1, 1999, and April 1, 2000, allowing assessments until March 31, 2002. Sub-section (3), clause (i) is omitted.
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