TaxTMI 
TaxTMI 
EXTRACTS FROM THE INCOME-TAX ACT, 1961
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....nsequence of or to give effect to any finding or direction contained in an order under section 250, 254, 260, 262, 263, or 264 or in an order of any court in a proceeding otherwise than by way of appeal or reference under this Act; (iii) where, in the case of a firm, an assessment is made on a partner of the firm in consequence of an assessment made on the firm under section 147. Explanation 1.—In computing the period of limitation for the purposes of this section— (i) the time taken in reopening the whole or any part of the proceeding or in giving an opportunity to the assessee to be re-heard under the proviso to section 129, or (ii) the period during which the assessment proceeding is stayed by an orde....
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....de and ending with the date on which the order under sub-section (1) of section 245D is received by the Commissioner under sub-section (2) of that section, 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 order rejecting the application is received by the Commissioner under sub-section (3) of section 245R, or (vii) 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 Commissioner unde....
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.... 153 A . 153B. (1) Notwithstanding anything contained in section 153, the Assessing Officer shall make an order of assessment or reassessment.— (a) in respect of each assessment year falling within six assessment years referred to in clause (b) of section 153A, 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; (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 o....
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.... over such other person, whichever is later. Explanation.—In computing the period of limitation for the purposes of this section,— (i) the period during which the assessment proceeding is stayed by an order or injunction of any court; or (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 such audit under that subsection; or (iii) the time taken in reopening the whole or any part of the proceeding or in giving an opportunity to the assessee of being re-heard under the proviso to section 129; or (iv) in a case where an application made....
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....nitions. 245N. In this Chapter, unless the context otherwise requires,— (d) "Authority" means the Authority for Advance Rulings constituted under section 245-O; (e) "Chairman" means the Chairman of the Authority; (f) "Member" means a Member of the Authority and includes the Chairman. Authority for Advance Rulings. 245-O. (1) The Central Government shall constitute an Authority for giving advance rulings, to be known as "authority for Advance Rulings". (2) The Authority shall consist of the following Members appointed by the Central Government, namely:— (a) a Chairman, who is a retired Judge of the supreme Court; (b) an Officer of the Indian Revenue Service who is qualified t....