Income Tax Act, 2025
Section 4: Subs. by Act 20 of 2015, s. 36, for section 151 (w.e.f. 12015).
4. Subs. by Act 20 of 2015, s. 36, for section 151 (w.e.f. 12015).
5. Subs. by Act 4 of 1988, s. 58, for “in circumstances falling under clause (b) of section 147” (w.e.f. 11989).
588
1[153. Time limit for completion of assessment, reassessment and recomputation.—(1) No order
of assessment shall be made under section 143 or section 144 at any time after the expiry of twenty-one
months from the end of the assessment year in which the income was first assessable:
2[Provided that in respect of an order of assessment relating to the assessment year commencing on
the 1st day of April, 2018, the provisions of this sub-section shall have effect, as if for the words “twentyone months”, the words “eighteen months” had been substituted:
Provided further that in respect of an order of assessment relating to the assessment year commencing
on or after the 1st day of April, 2019, the provisions of this sub-section shall have effect, as if for the
words “twenty-one months”, the words “twelve months” had been substituted.]
(2) No order of assessment, reassessment or recomputation shall be made under section 147 after the
expiry of nine months from the end of the financial year in which the notice under section 148 was
served:
2[Provided that where the notice under section 148 is served on or after the 1st day of April, 2019, the
provisions of this sub-section shall have effect, as if for the words “nine months”, the words “twelve
months” had been substituted.]
(3) Notwithstanding anything contained in sub-sections (1) and (2), an order of fresh assessment in
pursuance of an order under section 254 or section 263 or section 264, setting aside or cancelling an
assessment, may be made at any time before the expiry of nine months from the end of the financial year
in which the order under section 254 is received by the Principal Chief Commissioner or Chief
Commissioner or Principal Commissioner or Commissioner or, as the case may be, the order
under section 263 or section 264 is passed by the Principal Commissioner or Commissioner:
2[Provided that where the order under section 254 is received by the Principal Chief Commissioner or
Chief Commissioner or Principal Commissioner or Commissioner or, as the case may be, the order
under section 263 or section 264 is passed by the Principal Commissioner or Commissioner on or after
the 1st day of April, 2019, the provisions of this sub-section shall have effect, as if for the words “nine
months”, the words “twelve months” had been substituted.]
(4) Notwithstanding anything contained in sub-sections (1), (2) and (3), where a reference under
sub-section (1) of section 92CA is made during the course of the proceeding for the assessment or
reassessment, the period available for completion of assessment or reassessment, as the case may be,
under the said sub-sections (1), (2) and (3) shall be extended by twelve months.
(5) Where effect to an order under section 250 or section 254 or section 260 or section 262 or
section 263 or section 264 is to be given by the Assessing Officer, wholly or partly, otherwise than by
making a fresh assessment or reassessment, such effect shall be given within a period of three months
from the end of the month in which order under section 250 or section 254 or section 260 or
section 262 is received by the Principal Chief Commissioner or Chief Commissioner or Principal
Commissioner or Commissioner, as the case may be, the order under section 263 or section 264 is passed
by the Principal Commissioner or Commissioner:
Provided that where it is not possible for the Assessing Officer to give effect to such order within the
aforesaid period, for reasons beyond his control, the Principal Commissioner or Commissioner on receipt
of such request in writing from the Assessing Officer, if satisfied, may allow an additional period of six
months to give effect to the order:
of section 147” (w.e.f. 11989).
588
1[153. Time limit for completion of assessment, reassessment and recomputation.—
No order
of assessment shall be made under section 143 or section 144 at any time after the expiry of twenty-one
months from the end of the assessment year in which the income was first assessable:
2[Provided that in respect of an order of assessment relating to the assessment year commencing on
the 1st day of April, 2018, the provisions of this sub-section shall have effect, as if for the words “twentyone months”, the words “eighteen months” had been substituted:
Provided further that in respect of an order of assessment relating to the assessment year commencing
on or after the 1st day of April, 2019, the provisions of this sub-section shall have effect, as if for the
words “twenty-one months”, the words “twelve months” had been substituted.]
No order of assessment, reassessment or recomputation shall be made under section 147 after the
expiry of nine months from the end of the financial year in which the notice under section 148 was
served:
2[Provided that where the notice under section 148 is served on or after the 1st day of April, 2019, the
provisions of this sub-section shall have effect, as if for the words “nine months”, the words “twelve
months” had been substituted.]
Notwithstanding anything contained in sub-sections
and
Notwithstanding anything contained in sub-sections
and
of section 92CA is made during the course of the proceeding for the assessment or
reassessment, the period available for completion of assessment or reassessment, as the case may be,
under the said sub-sections
and
shall be extended by twelve months.
Where effect to an order under section 250 or section 254 or section 260 or section 262 or
section 263 or section 264 is to be given by the Assessing Officer, wholly or partly, otherwise than by
making a fresh assessment or reassessment, such effect shall be given within a period of three months
from the end of the month in which order under section 250 or section 254 or section 260 or
section 262 is received by the Principal Chief Commissioner or Chief Commissioner or Principal
Commissioner or Commissioner, as the case may be, the order under section 263 or section 264 is passed
by the Principal Commissioner or Commissioner:
Provided that where it is not possible for the Assessing Officer to give effect to such order within the
aforesaid period, for reasons beyond his control, the Principal Commissioner or Commissioner on receipt
of such request in writing from the Assessing Officer, if satisfied, may allow an additional period of six
months to give effect to the order: