o order in respect of proceedings mentioned in column B of the Table below shall be made after expiry of the period specified in the corresponding entry in column D of the said Table and such period shall be calculated from the date as mentioned in column C thereof.
Table Sl. No. Nature of Date from which time Time limit Proceedings or limit for completion is for orders to be calculated completion A B C D 1. Assessment order End of the financial One year. under section 270(10) or year succeeding the section 271. relevant tax year for which assessment is made. 2. Assessment order End of the financial One year. under section 270(10) or year in which such 271, where an updated updated return was return of income is furnished. furnished under section 263(6). 3. Assessment order End of the financial One year. under section 270(10) or year in which such 271, where return is return was furnished. furnished in consequence of order under section 239(3)(b). 4. Assessment, End of the financial One year. reassessment or year in which notice recomputation order under section 280 was under section 279. served. 5. Fresh assessment order End of the financial One year. or fresh order under year in which order section 166 in pursuance under section 359 or to an order under section 363 is received by, or 359, or 363, or 377, or order under section 377 378, setting aside or or 378 is passed by, the canceling an assessment jurisdictional Principal order or an order under Commissioner or section 166. Commissioner. 6. Assessment or End of the month in One year. reassessment which which such assessment stands revived, as per or reassessment stands section 292. revived. 7. Assessment required to End of the month in One year. be made in the hands of which assessment order partner, in consequence of in the case of firm is
Sl. No. Nature of Date from which time Time limit Proceedings or limit for completion is for orders to be calculated completion A B C D an assessment made on passed. the firm under section 279. 8. Assessment, reassessment End of the month in One year. or recomputation required which such order is to be made on the received, or passed, by assessee or any person in the jurisdictional consequence of or to give Principal Commissioner effect to any finding or or Commissioner. direction contained in an order–– (i) under section 359 or 363 or 365(10), or 368, or 377 or 378; or (ii) of any Court in a proceeding otherwise than by way of appeal or reference under this Act. 9. Order giving effect to End of the month in One year. an order under section which order under 359 or 363 or 365(10) section 359 or 363 or or 368 or 377 or 378, 365(10) or 368 is otherwise than by making received, or order under a fresh assessment or section 377 or 378 is reassessment or fresh passed, by the order under section 166, jurisdictional Principal where–– Commissioner or (i) verification of any Commissioner. 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. 10. Order giving effect to End of the month in Six months, an order under section which order under extendable
Sl. No. Nature of Date from which time Time limit Proceedings or limit for completion is for orders to be calculated completion A B C D 359 or 363 or 365(10) or section 359 or 363 or to nine 368 or 377 or 378 365(10) or 368 is months with otherwise than by making received by, or order the approval a fresh assessment or under section 377 or of authorities reassessment or fresh 378 is passed by, the as per section order under section 166. jurisdictional Principal 2(62) and Commissioner or (64). Commissioner. 11. Modification of End of the month in Two months. assessment, reassessment which such order under or recomputation to give section 166 is received effect to the order passed by the Assessing under section 166 read Officer. with section 377. (2) Time limit for completion of any assessment or reassessment as provided in sub-section (1), in a case where reference is made to the Transfer Pricing Officer for determining the arm’s length price under section 166(1), shall be extended by an additional period of twelve months.