TaxTMI 
TaxTMI 
Time limit for completion of assessment, reassessment and recomputation
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....271. End of the financial year succeeding the relevant tax year for which assessment is made. One year. 2. Assessment order under section 270(10) or 271, where an updated return of income is furnished under section 263(6). End of the financial year in which such updated return was furnished. One year. 3. Assessment order under section 270(10) or 271, where return is furnished in consequence of order under section 239(3)(b). End of the financial year in which such return was furnished. One year. 4. Assessment, reassessment or recomputation order under section 279. End of the financial year in which notice under section 280 was served. One year. 5. Fresh assessment order or fre....
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.... (i) verification of any issue by way of submission of any document by the assessee or any other person is to be carried out; or (ii) an opportunity of being heard is to be given to the assessee. End of the month in which order under section 359 or 363 or 365(10) or 368 is received by, or order under section 377 or 378 is passed by, the jurisdictional Principal Commissioner or Commissioner. One year. 10. Order giving effect to an order under section 359 or 363 or 365(10) or 368 or 377 or 378 otherwise than by making a fresh assessment or reassessment or fresh order under section 166. End of the month in which order under section 359 or 363 or 365(10) or 368 is received by, or order under section 377 or 378 is pas....
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....n of any court and ending on the date on which certified copy of the order vacating the stay was received by jurisdictional Principal Commissioner or Commissioner; or (c) the period commencing from the date on which the Assessing Officer intimates the Central Government or the prescribed authority, the contravention of the provisions of Schedule III (Table: Sl. No. 23, 24, 25) or section 270(11)(i), and ending with the date on which the copy of the order withdrawing the approval or rescinding the notification, as the case may be, under those provisions is received by the Assessing Officer; or (d) the period commencing from the date on which the Assessing Officer directs the assessee to get his accounts audited or inventory....
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....ted is last received by the jurisdictional Principal Commissioner or Commissioner, or one year, whichever is less; or (i) 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 jurisdictional Principal Commissioner or Commissioner under section 274(1) and ending on the date on which a direction under sub-section (3) or (6) or an order under sub-section (5) of the said section is received by the Assessing Officer; or (j) the period commencing from the date on which the Assessing Officer makes a reference to the jurisdictional Principal Commissioner or Commissioner under section 270(13) and ending with the date on which copy o....
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....iod of limitation under sections 282, 287, 288 and 296 and for the purposes of payment of interest under section 437, this sub-section shall also apply accordingly. (7) In a case where the remaining time period for making an order of regular assessment or reassessment, after excluding the time period specified in sub-section (3)(j), ends before the end of the month, the remaining period shall be extended to the end of such month, and the specified time limit for completion shall be deemed to have been extended accordingly. (8) For the purposes of this section and section 283, where by an order referred to in entry in sub-section (1) (Table: Sl. No. 8.A)-- (i) any income is excluded from the total income of the assessee for a ....