Income Tax Act, 2025
Section 5: Subs. by Act 25 of 2014, s. 4, for “Commissioner” (w.e.f. 12013).
5. Subs. by Act 25 of 2014, s. 4, for “Commissioner” (w.e.f. 12013).
593
1[153B. Time limit for completion of assessment under section 153A.—(1) Notwithstanding
anything contained in section 153, the Assessing Officer shall make an order of assessment or
reassessment,—
(a) in respect of each assessment year falling within six assessment years 2[and for the relevant
assessment year or years] referred to in clause (b) of sub-section (1) of section 153A, within a period
of twenty-one months from the end of the financial year in which the last of the authorisations for
search under section 132 or for requisition under section 132A was executed;
(b) in respect of the assessment year relevant to the previous year in which search is conducted
under section 132 or requisition is made under section 132A, within a period of twenty-one months
from the end of the financial year in which the last of the authorisations for search under section
132 or for requisition under section 132A was executed:
Provided that in case of other person referred to in section 153C, the period of limitation for making
the assessment or reassessment shall be the period as referred to in clause (a) or clause (b) of this
sub-section or nine months from the end of the financial year in which books of account or documents or
assets seized or requisitioned are handed over under section 153C to the Assessing Officer having
jurisdiction over such other person, whichever is later:
3[Provided further that in the case where the last of the authorisations for search under section 132 or
for requisition under section 132A was executed during the financial year commencing on the 1st day of
April, 2018,—
(i) the provisions of clause (a) or clause (b) of this sub-section shall have effect, as if for the
words “twenty-one months”, the words “eighteen months” had been substituted;
(ii) the period of limitation for making the assessment or reassessment in case of other person
referred to in section 153C, shall be the period of eighteen months from the end of the financial year
in which the last of the authorisations for search under section 132 or for requisition under
section 132A was executed or twelve months from the end of the financial year in which books of
account or documents or assets seized or requisitioned are handed over under section 153C to the
Assessing Officer having jurisdiction over such other person, whichever is later:
Provided also that in the case where the last of the authorisations for search under section 132 or for
requisition under section 132A was executed during the financial year commencing on or after the 1st day
of April, 2019,—
(i) the provisions of clause (a) or clause (b) of this sub-section shall have effect, as if for the
words “twenty-one months”, the words “twelve months” had been substituted;
(ii) the period of limitation for making the assessment or reassessment in case of other person referred
to in section 153C, shall be the period of twelve months from the end of the financial year in which the last
of the authorisations for search under section 132 or for requisition under section 132A was executed or
twelve months from the end of the financial year in which books of account or documents or assets seized
or requisitioned are handed over under section 153C to the Assessing Officer having jurisdiction over such
other person, whichever is later:
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:
Notwithstanding
anything contained in section 153, the Assessing Officer shall make an order of assessment or
reassessment,—
in respect of each assessment year falling within six assessment years 2[and for the relevant
assessment year or years] referred to in clause
of sub-section
of section 153A, within a period
of twenty-one months from the end of the financial year in which the last of the authorisations for
search under section 132 or for requisition under section 132A was executed;
in respect of the assessment year relevant to the previous year in which search is conducted
under section 132 or requisition is made under section 132A, within a period of twenty-one months
from the end of the financial year in which the last of the authorisations for search under section
132 or for requisition under section 132A was executed:
Provided that in case of other person referred to in section 153C, the period of limitation for making
the assessment or reassessment shall be the period as referred to in clause
or clause
of this
sub-section or nine months from the end of the financial year in which books of account or documents or
assets seized or requisitioned are handed over under section 153C to the Assessing Officer having
jurisdiction over such other person, whichever is later:
3[Provided further that in the case where the last of the authorisations for search under section 132 or
for requisition under section 132A was executed during the financial year commencing on the 1st day of
April, 2018,—
the provisions of clause
or clause
of this sub-section shall have effect, as if for the
words “twenty-one months”, the words “eighteen months” had been substituted;
the period of limitation for making the assessment or reassessment in case of other person
referred to in section 153C, shall be the period of eighteen months from the end of the financial year
in which the last of the authorisations for search under section 132 or for requisition under
section 132A was executed or twelve months from the end of the financial year in which books of
account or documents or assets seized or requisitioned are handed over under section 153C to the
Assessing Officer having jurisdiction over such other person, whichever is later:
Provided also that in the case where the last of the authorisations for search under section 132 or for
requisition under section 132A was executed during the financial year commencing on or after the 1st day
of April, 2019,—
the provisions of clause
or clause
of this sub-section shall have effect, as if for the
words “twenty-one months”, the words “twelve months” had been substituted;
the period of limitation for making the assessment or reassessment in case of other person referred
to in section 153C, shall be the period of twelve months from the end of the financial year in which the last
of the authorisations for search under section 132 or for requisition under section 132A was executed or
twelve months from the end of the financial year in which books of account or documents or assets seized
or requisitioned are handed over under section 153C to the Assessing Officer having jurisdiction over such
other person, whichever is later:
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: