TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>New Sub-section 153(4) Added: Assessment Orders Must Be Completed Within One Year After Revival Under Section 153A(2).</h1> Section 153 of the Income-tax Act is amended by inserting a new sub-section (4), effective from June 1, 2003. This sub-section mandates that orders of assessment or reassessment revived under section 153A(2) must be completed within one year from the revival date or within the specified period, whichever is later. Additionally, a proviso is added to Explanation 1, effective from June 1, 2007, stating that if proceedings before the Settlement Commission abate under section 245HA, the limitation period for assessment must be at least one year, extending if necessary. This proviso also applies to certain other sections and interest payments.
TaxTMI 
TaxTMI 
