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of <h1>Stay period before Settlement Commission not counted towards 18-month limit under Section 245D(4A) of Income Tax Act</h1> The Bombay HC clarified that the stay period on proceedings before the Settlement Commission is excluded from the 18-month time limit under Section ... Calculation of time limit under Section 245D(4A) - Held that:- Learned Sr. Counsel appearing for the respondent nos.2 to 43 submit that since the proceeding before the Settlement Commission were stayed from 22 October 2013 till the date of pronouncement of judgment on 28 February 2014, said period will have to be excluded from the time limit of 18 months under Section 245D(4A) of the Income Tax Act, 1961. Learned Sr. Counsel appearing for the petitioner has no objection to such clarification being granted.It is accordingly clarified that the aforesaid period shall be excluded from the time limit under Section 245D(4A) of the Income Tax Act, 1961. The Bombay High Court clarified that the period of stay on proceedings before the Settlement Commission should be excluded from the time limit of 18 months under Section 245D(4A) of the Income Tax Act, 1961. The petitioner's counsel had no objection to this clarification.
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