Limitation period extended to minimum one year when a settlement application is withdrawn under section 245M(1). Withdrawal of a settlement application mandates that, after excluding the specified excluded period under section 153, the residual limitation period for the assessing officer to complete an assessment, reassessment or recomputation shall be not less than one year and is deemed extended to one year if shorter; the same deemed minimum applies for determining limitation for reopening, rectification and for calculation of interest on refunds.