Income Tax Act, 2025
Section 3: Subs by s. 61, ibid., for the second and third provisos (w.e.f. 12017).
3. Subs by s. 61, ibid., for the second and third provisos (w.e.f. 12017).
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Provided also that in case where during the course of the proceedings for the assessment or
reassessment of total income in case of other person referred to in section 153C, a reference under
sub-section (1) of section 92CA is made, the period available for making an order of assessment or
reassessment in case of such other person shall be extended by twelve months:]
Provided also that in case where the last of the authorisations for search under section 132 or for
requisition under section 132A was executed and during the course of the proceedings for the
assessment or reassessment of total income, a reference under sub-section (1) of section 92CA is
made, the period available for making an order of assessment or reassessment shall be extended by
twelve months:
Provided also that in case where during the course of the proceedings for the assessment or
reassessment of total income in case of other person referred to in section 153C, a reference under
sub-section (1) of section 92CA is made, the period available for making an order of assessment or
reassessment in case of such other person shall be extended by twelve months.]
(2) The authorisation referred to in clause (a) and clause (b) of sub-section (1) shall be deemed to
have been executed,—
(a) in the case of search, on the conclusion of search as recorded in the last panchnama drawn in
relation to any person in whose case the warrant of authorisation has been issued; or
(b) in the case of requisition under section 132A, on the actual receipt of the books of account or
other documents or assets by the Authorised Officer.
(3) The provisions of this section, as they stood immediately before the commencement of the
Finance Act, 2016, shall apply to and in relation to any order of assessment or reassessment made before
the 1st day of June, 2016:
1[Provided that where a notice under section 153A or section 153C has been issued prior to the 1st
day of June, 2016 and the assessment has not been completed by such date due to exclusion of time
referred to in the Explanation, such assessment shall be completed in accordance with the provisions of
this section as it stood immediately before its substitution by the Finance Act, 2016 (28 of 2016).]
Explanation.—In computing the period of limitation under 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 date on which the Assessing Officer directs the assessee to
get his accounts audited under sub-section (2A) of section 142 and—
(a) ending with the last date on which the assessee is required to furnish a report of such audit
under that sub-section; or
(b) where such direction is challenged before a court, ending with the date on which the order
setting aside such direction is received by the Principal Commissioner or Commissioner; or
(iii) the period commencing from the date on which the Assessing Officer makes a reference to
the Valuation Officer under sub-section (1) of section 142A and ending with the date on which the
report of the Valuation Officer is received by the Assessing Officer; or
(iv) the time taken in re-opening 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
(v) in a case where an application made before the Income-tax Settlement Commission is rejected
by it or is not allowed to be proceeded with by it, the period commencing from the date on which an
application is made before the Settlement Commission under section 245C and ending with the date
on which the order under sub-section (1) of section 245D is received by the Principal Commissioner
or Commissioner under sub-section (2) of that section; or
of section 92CA is made, the period available for making an order of assessment or
reassessment in case of such other person shall be extended by twelve months:]
Provided also that in case where the last of the authorisations for search under section 132 or for
requisition under section 132A was executed and during the course of the proceedings for the
assessment or reassessment of total income, a reference under sub-section
of section 92CA is
made, the period available for making an order of assessment or reassessment shall be extended by
twelve months:
Provided also that in case where during the course of the proceedings for the assessment or
reassessment of total income in case of other person referred to in section 153C, a reference under
sub-section
of section 92CA is made, the period available for making an order of assessment or
reassessment in case of such other person shall be extended by twelve months.]
The authorisation referred to in clause
and clause
of sub-section
shall be deemed to
have been executed,—
in the case of search, on the conclusion of search as recorded in the last panchnama drawn in
relation to any person in whose case the warrant of authorisation has been issued; or
in the case of requisition under section 132A, on the actual receipt of the books of account or
other documents or assets by the Authorised Officer.
The provisions of this section, as they stood immediately before the commencement of the
Finance Act, 2016, shall apply to and in relation to any order of assessment or reassessment made before
the 1st day of June, 2016:
1[Provided that where a notice under section 153A or section 153C has been issued prior to the 1st
day of June, 2016 and the assessment has not been completed by such date due to exclusion of time
referred to in the Explanation, such assessment shall be completed in accordance with the provisions of
this section as it stood immediately before its substitution by the Finance Act, 2016 (28 of 2016).]
Explanation.—In computing the period of limitation under this section—
the period during which the assessment proceeding is stayed by an order or injunction of any
court; or
the period commencing from the date on which the Assessing Officer directs the assessee to
get his accounts audited under sub-section
of section 142 and—
ending with the last date on which the assessee is required to furnish a report of such audit
under that sub-section; or
where such direction is challenged before a court, ending with the date on which the order
setting aside such direction is received by the Principal Commissioner or Commissioner; or
the period commencing from the date on which the Assessing Officer makes a reference to
the Valuation Officer under sub-section
of section 142A and ending with the date on which the
report of the Valuation Officer is received by the Assessing Officer; or
the time taken in re-opening 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
in a case where an application made before the Income-tax Settlement Commission is rejected
by it or is not allowed to be proceeded with by it, the period commencing from the date on which an
application is made before the Settlement Commission under section 245C and ending with the date
on which the order under sub-section
of section 245D is received by the Principal Commissioner
or Commissioner under sub-section
of that section; or