Income Tax Act, 2025
Section 2: Ins. by Act 7 of 2017, s. 59 (w.e.f. 12017).
2. Ins. by Act 7 of 2017, s. 59 (w.e.f. 12017).
589
1[Provided further that where an order under section 250 or section 254 or section 260 or
section 262 or section 263 or section 264 requires verification of any issue by way of submission of
anydocument by the assessee or any other person or where an opportunity of being heard is to be
provided to the assessee, the order giving effect to the said order under section 250 or section 254 or
section 260 or section 262 or section 263 or section 264 shall be made within the time specifiedin subsection (3).]
(6) Nothing contained in sub-sections (1) and (2) shall apply to the following classes of assessments,
reassessments and recomputation which may, subject to the provisions of sub-sections (3) and (5), be
completed—
(i) where the assessment, reassessment or recomputation is made on the assessee or any person in
consequence of or to give effect to any finding or direction contained in an order under
section 250, section 254, section 260, section 262, section 263, or section 264 or in an order of any
court in a proceeding otherwise than by way of appeal or reference under this Act, on or before the
expiry of twelve months from the end of the month in which such order is received or passed by the
Principal Commissioner or Commissioner, as the case may be; or
(ii) where, in the case of a firm, an assessment is made on a partner of the firm in consequence of
an assessment made on the firm under section 147, on or before the expiry of twelve months from the
end of the month in which the assessment order in the case of the firm is passed.
(7) Where effect to any order, finding or direction referred to in sub-section (5) or sub-section (6) is
to be given by the Assessing Officer, within the time specified in the said sub-sections, and such order has
been received or passed, as the case may be, by the income-tax authority specified therein before the 1st
day of June, 2016, the Assessing Officer shall give effect to such order, finding or direction, or assess,
reassess or recompute the income of the assessee, on or before the 31st day of March, 2017.
(8) Notwithstanding anything contained in the foregoing provisions of this section, sub-section (2)
of section 153A or sub-section (1) of section 153B, the order of assessment or reassessment, relating to
any assessment year, which stands revived under sub-section (2) of section 153A, shall be made within a
period of one year from the end of the month of such revival or within the period specified in this
section or sub-section (1) ofsection 153B, whichever is later.
(9) 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, reassessment or recomputation made
before the 1st day of June, 2016:
1[Provided that where a notice under sub-section (1) of section 142 or sub-section (2) of
section 143 or section 148 has been issued prior to the 1st day of June, 2016 and the assessment or
reassessment has not been completed by such date due to exclusion of time referred to in Explanation 1,
such assessment or reassessment 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 1.—For the purposes of this section, in computing the period of limitation—
(i) the time taken in reopening the whole or any part of the proceeding or in giving an opportunity
to the assessee to be re-heard under the proviso to section 129; or
(ii) the period during which the assessment proceeding is stayed by an order or injunction of any
court; or
(iii) the period commencing from the date on which the Assessing Officer intimates the Central
Government or the prescribed authority, the contravention of the provisions of clause (21) or clause
(22B) or clause (23A) or clause (23B) or sub-clause (iv) or sub-clause (v) or sub-clause (vi) or
sub-clause (via) of clause (23C) of section 10, under clause (i) of the proviso to sub-section (3)
of section 143 and ending with the date on which the copy of the order withdrawing the approval or
rescinding the notification, as the case may be, under those clauses is received by the Assessing
Officer; or
Nothing contained in sub-sections
and
shall apply to the following classes of assessments,
reassessments and recomputation which may, subject to the provisions of sub-sections
and
where the assessment, reassessment or recomputation is made on the assessee or any person in
consequence of or to give effect to any finding or direction contained in an order under
section 250, section 254, section 260, section 262, section 263, or section 264 or in an order of any
court in a proceeding otherwise than by way of appeal or reference under this Act, on or before the
expiry of twelve months from the end of the month in which such order is received or passed by the
Principal Commissioner or Commissioner, as the case may be; or
where, in the case of a firm, an assessment is made on a partner of the firm in consequence of
an assessment made on the firm under section 147, on or before the expiry of twelve months from the
end of the month in which the assessment order in the case of the firm is passed.
Where effect to any order, finding or direction referred to in sub-section
or sub-section
is
to be given by the Assessing Officer, within the time specified in the said sub-sections, and such order has
been received or passed, as the case may be, by the income-tax authority specified therein before the 1st
day of June, 2016, the Assessing Officer shall give effect to such order, finding or direction, or assess,
reassess or recompute the income of the assessee, on or before the 31st day of March, 2017.
Notwithstanding anything contained in the foregoing provisions of this section, sub-section
of section 153A or sub-section
of section 153B, the order of assessment or reassessment, relating to
any assessment year, which stands revived under sub-section
of section 153A, shall be made within a
period of one year from the end of the month of such revival or within the period specified in this
section or sub-section
ofsection 153B, whichever is later.
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, reassessment or recomputation made
before the 1st day of June, 2016:
1[Provided that where a notice under sub-section
of section 142 or sub-section
of
section 143 or section 148 has been issued prior to the 1st day of June, 2016 and the assessment or
reassessment has not been completed by such date due to exclusion of time referred to in Explanation 1,
such assessment or reassessment 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 1.—For the purposes of this section, in computing the period of limitation—
the time taken in reopening the whole or any part of the proceeding or in giving an opportunity
to the assessee to be re-heard under the proviso to section 129; or
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 intimates the Central
Government or the prescribed authority, the contravention of the provisions of clause
or clause
or clause
or clause
or sub-clause
or sub-clause
or sub-clause
or
sub-clause
of clause
of section 10, under clause
of the proviso to sub-section
of section 143 and ending with the date on which the copy of the order withdrawing the approval or
rescinding the notification, as the case may be, under those clauses is received by the Assessing
Officer; or