India - Income Tax Act 2010 - Saarc

S. 153 I.T. ACT, 1961 1.680and any subsequent assessment year, an order of fresh assessment in pursuanceof an order under section 250 or section 254 or section 263 or section 264, settingaside or cancelling an assessment, may be made at any time before the expiry ofone year from the end of the financial year in which the order under section 250or section 254 is received by the Chief Commissioner or Commissioner or, as thecase may be, the order under section 263 or section 264 is passed by the ChiefCommissioner or Commissioner:Provided that where the order under section 250 or section 254 is received by theChief Commissioner or Commissioner or, as the case may be, the order undersection 263 or section 264 is passed by the Chief Commissioner or Commissioner,on or after the 1st day of April, 1999 but before the 1st day of April, 2000, suchan order of fresh assessment may be made at any time up to the 31st day ofMarch, 2002 :]46[Provided further that where the order under section 254 is received by theChief Commissioner or Commissioner or, as the case may be, the order undersection 263 or section 264 is passed by the Commissioner on or after the 1st dayof April, 2005, the provisions of this sub-section shall have effect as if for thewords “one year”, the words “nine months” had been substituted:]47[Provided also that where the order under section 254 is received by the ChiefCommissioner or Commissioner or, as the case may be, the order under section263 or section 264 is passed by the Commissioner on or after the 1st day of April,2006, and during the course of the proceedings for the fresh assessment of totalincome, a reference under sub-section (1) of section 92CA—(i) was made before the 1st day of June, 2007 but an order under subsection(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 provisions of this sub-section shall, notwithstanding anything contained inthe second proviso, have effect as if for the words “one year”, the words “twentyonemonths” had been substituted.](3) The provisions of sub-sections (1) 48 [, (1A), (1B)] and (2) shall not apply to thefollowing classes of assessments, reassessments and recomputations which may,49[subject to the provisions of sub-section (2A),] be completed at any time—(i) 50 [***](ii) where the assessment, reassessment or recomputation is made on theassessee or any person 51 in consequence of or to give effect to 51 any46. Inserted by the Finance Act, 2006, w.e.f. 1-6-2006.47. Inserted by the Finance Act, 2007, w.e.f. 1-6-2007.48. Inserted by the Finance Act, 2005, w.e.f. 1-4-2006.49. Inserted by the Taxation Laws (Amendment) Act, 1970, w.e.f. 1-4-1971.50. Omitted by the Finance Act, 2001, w.e.f. 1-6-2001. Prior to its omission, clause (i) read asunder :“(i) where a fresh assessment is made under section 146;”51. For the meaning of expressions “any person” and “in consequence of or to give effect to”,see Taxmann’s Direct Taxes Manual, Vol. 3.