TaxTMI 
TaxTMI 
Time limit for completion of assessment under section 153A.
X X X X Extracts X X X X
X X X X Extracts X X X X
....reassessment shall be the period as referred to in clause (a) or clause (b) of this sub-section or nine months from the end of the financial year in which books of account or documents or assets seized or requisitioned are handed over under section 153C to the Assessing Officer having jurisdiction over such other person, whichever is later: 28[Provided further that in the case where the last of the authorisations for search under section 132 or for requisition under section 132A was executed during the financial year commencing on the 1st day of April, 2018,- (i) the provisions of clause (a) or clause (b) of this sub-section shall have effect, as if for the words "twenty-one months", the words "eighteen months" had been substituted; (ii) the period of limitation for making the assessment or reassessment in case of other person referred to in section 153C, shall be the period of eighteen months from the end of the financial year in which the last of the authorisations for search under section 132 or for requisition under section 132A was executed or twelve months from the end of the financial year in which books of account or documents or assets seized or requisitioned are hand....
X X X X Extracts X X X X
X X X X Extracts X X X X
....for the assessment year commencing on the 1st day of April, 2021 shall be made on or before the 30th day of September, 2022.] (2) The authorisation referred to in clause (a) and clause (b) of sub-section (1) shall be deemed to have been executed,- (a) in the case of search, on the conclusion of search as recorded in the last panchnama drawn in relation to any person in whose case the warrant of authorisation has been issued; or (b) in the case of requisition under section 132A, on the actual receipt of the books of account or other documents or assets by the Authorised Officer. (3) The provisions of this section, as they stood immediately before the commencement of the Finance Act, 2016, shall apply to and in relation to any order of assessment or reassessment made before the 1st day of June, 2016. 29[Provided that where a notice under section 153A or section 153C has been issued prior to the 1st day of June, 2016 and the assessment has not been completed by such date due to exclusion of time referred to in the Explanation, such assessment shall be completed in accordance with the provisions of this section as it stood immediately before its substitution by the Finance Act, ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....rity for Advance Rulings or before the Board for Advance Rulings] under sub-section (1) of section 245Q and ending with the date on which the advance ruling pronounced by it is received by the Principal Commissioner or Commissioner under sub-section (7) of section 245R; or (viii) the period commencing from the date of annulment of a proceeding or order of assessment or reassessment referred to in sub-section (2) of section 153A, till the date of the receipt of the order setting aside the order of such annulment, by the Principal Commissioner or Commissioner; or (ix) the period commencing from the date on which a reference or first of the references for exchange of information is made by an authority competent under an agreement referred to in section 90 or section 90A and ending with the date on which the information requested is last received by the Principal Commissioner or Commissioner or a period of one year, whichever is less; or (x) the period commencing from the date on which a reference for declaration of an arrangement to be an impermissible avoidance arrangement is received by the Principal Commissioner or Commissioner under sub-section (1) of section 144BA and endi....
X X X X Extracts X X X X
X X X X Extracts X X X X
....making an order of assessment or reassessment, as the case may be, shall, after the exclusion of the period under sub-section (5) of the said section, be not less than one year; and where such period of limitation is less than one year, it shall be deemed to have been extended to one year.] ************* NOTES:- 1. Inserted vide Section 65 of the Finance Act, 2003 w.e.f. 01-06-2003 1A. Inserted vide Section 46 of the Finance Act, 2005 w.e.f. 01-06-2003 2. Inserted vide Section 38 of the Finance Act, 2006 w.e.f. 01-06-2006 3. Inserted vide Section 49 of the Finance Act, 2007 w.e.f. 01-06-2007 4. Inserted vide Section 36 of the Finance (No. 2) Act, 2004 w.e.f. 01-10-2004 5. Inserted vide Section 36 of the Finance (No. 2) Act, 2004 w.e.f. 01-10-2004 6. Words "this section" should be read as "sub-section(1)". 7. Substituted vide Section 37 of the Finance Act, 2008 w.e.f. 01-06-2003 before it was read as, "section 153A" 8. Inserted vide Section 37 of the Finance Act, 2008 w.e.f. 01-06-2003 9. Substituted vide Section 37 of the Finance Act, 2008 w.e.f. 01-06-2003 before it was read as, "clause ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....(1) of section 92CA- (i) was made before the 1st day of July, 2012 but an order under sub-section (3) of section 92CA has not been made before such date; or (ii) is made on or after the 1st day of July, 2012, the period of limitation for making the assessment or reassessment in case of such other person shall, notwithstanding anything contained in clause (ii) of the second proviso, be the period of thirty-six months from the end of the financial year in which the last of the authorisations for search under section 132 or for requisition under section 132A was executed or twenty-four months from the end of the financial year in which books of account or documents or assets seized or requisitioned are handed over under section 153C to the Assessing Officer having jurisdiction over such other person, whichever is later.]" 19. Substituted vide Section 42 of the Finance Act, 2013 w.e.f. 01-06-2013 before it was read as, "(ii) the period commencing from the day on which the Assessing Officer directs the assessee to get his accounts audited under sub-section (2A) of section 142 and ending on the day on which the assessee is required to furnish a report of s....
X X X X Extracts X X X X
X X X X Extracts X X X X
....n which the last of the authorisations for search under section 132 or for requisition under section 132A was executed; (b) in respect of the assessment year relevant to the previous year in which search is conducted under section 132 or requisition is made under section 132A, within a period of two years from the end of the financial year in which the last of the authorisations for search under section 132 or for requisition under section 132A was executed : 1A[Provided that in case of other person referred to in section 153C, the period of limitation for making the assessment or reassessment shall be the period as referred to in clause (a) or clause (b) of this sub-section or one year from the end of the financial year in which books of account or documents or assets seized or requisitioned are handed over under section 153C to the Assessing Officer having jurisdiction over such other person, whichever is later:] 2[Provided further that in the case where the last of the authorisations for search under section 132 or for requisition under section 132A was executed during the financial year commencing 12[on or after the 1st day of April, 2004 but before the 1st day of April, ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ar commencing 15[on or after the 1st day of April, 2005 but before the 1st day of April, 2009] or any subsequent financial year and during the course of the proceedings for the assessment or reassessment of total income in case of other person referred to in section 153C, a reference under sub-section (1) of section 92CA- (i) was made before the 1st day of June, 2007 but an order under sub-section (3) of section 92CA has not been made before such date; or (ii) is made on or after the 1st day of June, 2007, the period of limitation for making the assessment or reassessment in case of such other person shall, notwithstanding anything contained in clause (ii) of the second proviso, be the period of thirty-three months from the end of the financial year in which the last of the authorisations for search under section 132 or for requisition under section 132A was executed or twenty-one months from the end of the financial year in which books of account or documents or assets seized or requisitioned are handed over under section 153C to the Assessing Officer having jurisdiction over such other person, whichever is later.] 18[Provided also that in case where the last of the author....
X X X X Extracts X X X X
X X X X Extracts X X X X
....on which the order under sub-section (1) of section 245D is received by the 25A[Principal Commissioner or] Commissioner under sub-section (2) of that section, 4[or] 5[(v) the period commencing from the date on which an application is made before the Authority for Advance Rulings under sub-section (1) of section 245Q and ending with the date on which the order rejecting the application is received by the 25B[Principal Commissioner or] Commissioner under sub-section (3) of section 245R, or (vi) the period commencing from the date on which an application is made before the Authority for Advance Rulings under sub-section (1) of section 245Q and ending with the date on which the advance ruling pronounced by it is received by the 25C[Principal Commissioner or] Commissioner under sub-section (7) of section 245R,] 8[(vii) the period commencing from the date of annulment of a proceeding or order of assessment or reassessment referred to in sub-section (2) of section 153A till the date of the receipt of the order setting aside the order of such annulment, by the 25D[Principal Commissioner or] Commissioner, 10[or]] 20[(viii) the period commencing from the date on which a reference or ....