TaxTMI 
TaxTMI 
Time limit for completion of assessment and reassessment
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....bsp; (b) where the net wealth was first assessable in the as­sessment year commencing on the 1st day of April, 1988, such assessment may be made on or before the 31st day of March, 1992:] ^4[Provided further that in case the assessment year in which the net wealth was first assessable is the assessment year ^18[commencing on or after the 1st day of April, 2004 but before the 1st day of April, 2010] or any subsequent year, the provisions of this sub-section shall have effect as if for the words "two years", the words "twenty-one months" had been substi­tuted.] (2) No order of assessment or reassessment shall be made under section 17 after the expiry of ^5[o....
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...., 1999 but before the 1st day of April, 2000, such an order of fresh assessment may be made at any time up to the 31st day of March, 2002:] ^13[Provided further that where the order under section 23A or section 24 is received by the Chief Commissioner or Commissioner or, as the case may be, the order under section 25 is passed by the Commissioner, on or ^20[after the 1st day of April, 2005 but before the 1st day of April, 2011], the provisions of this sub-section shall have effect as if for the words "one year", the words "nine months" had been substituted.] (4) The provisions of sub-sections (1) and (2) shall not apply to the assessment or reassessment made on the assessee or any other person in consequence of, or to give effect to, ....
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....r is not allowed to be proceeded with by it, the period commencing from the date on which such application is made and ending with the date on which the order under sub-section (1) of section 22D is received by the Commissioner under sub-section (2) of that section, shall be excluded : ^16[Provided that where immediately after the exclusion of the aforesaid time or period, the period of limitation referred to in sub-sections (1), (2) and (3) available to the Assessing Officer for making an order of assessment or reassessment, as the case may be, is less than sixty days, such remaining period shall be extended to sixty days and the aforesaid period of limitation shall be deemed to be extended accordingly:] ^17[Provided further that whe....
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.... four years commencing on and from the 1st day of April, 1975 or one year from the date of the filing of a return or a revised return under section 15, whichever is later, where the assessment year is an assessment year commencing before that date ; (b) four years from the end of the assessment year in which the net wealth was first assessable, or one year from the date of the filing of a return or a revised return under section 15, whichever is later, where the assessment year is an assessment year commencing on or after the 1st day of April, 1975. (2) No order of assessment or reassessment shall be made under section 17,- (a) where any proceeding for an assessment or reassessment is pending on the 1st day of April, 1975, at any t....
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.... under clause (a) of sub-section (1) of section 17 was served during the financial year commencing on the 1st day of April, 1985, or the 1st day of April, 1986, such assessment or reassessment may be completed on or before the 31st day of March, 1990 ; (ii) where the notice under clause (b) of sub-section (1) of section 17 relates to the assessment for the assessment year commencing on the 1st day of April, 1985, or the 1st day of April, 1986, such assessment or reassessment may be completed on or before the 31st day of March, 1990, or the expiry of two years from the end of the financial year in which such notice was served, whichever is later." 7. Inserted by the Finance Act, 2006, w.e.f. 1-6-2006. 8. Omitted by the Finance Act, ....