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Amendment of section 153.
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....turn is furnished in consequence of an order under clause (b) of sub-section (2) of section 119, an order of assessment under section 143 or section 144 may be made at any time before the expiry of twelve months from the end of the financial year in which such return was furnished."; (II) in sub-section (3), for the words and figures "order under section 254" wherever they occur, the words and ....
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....essment or recomputation, as the case may be, ends before the end of the month, such period shall be extended to the end of such month.". - Clause 48 of the Bill seeks to amend section 153 of the Income-tax Act relating to time-limit for completion of assessment, reassessment and recomputation. Sub-section (1) of the said section provides that assessment under section 143 or section 1....
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....e end of the financial year in which the order under section 250 or section 254 is received by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner or, as the case may be, the order under section 263 or section 264 is passed by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner, as the case may be. It is p....