Income Tax Act, 2025
Section 1: Ins. by Act 7 of 2017, s. 61 (w.e.f. 12016).
1. Ins. by Act 7 of 2017, s. 61 (w.e.f. 12016).
595
(vi) the period commencing from the date on which an application is made before the Authority
for Advance Rulings under sub-section (1) of section 245Q and ending with the date on which the
order rejecting the application is received by the Principal Commissioner or Commissioner under
sub-section (3) of section 245R; or
(vii) the period commencing from the date on which an application is made before the Authority
for Advance Rulings under sub-section (1) of section 245Q and ending with the date on which the
advance ruling pronounced by it is received by the Principal Commissioner or Commissioner under
sub-section (7) of section 245R; or
(viii) the period commencing from the date of annulment of a proceeding or order of assessment
or reassessment referred to in sub-section (2) of section 153A, till the date of the receipt of the order
setting aside the order of such annulment, by the Principal Commissioner or Commissioner; or
(ix) the period commencing from the date on which a reference or first of the references for
exchange of information is made by an authority competent under an agreement referred to in
section 90 or section 90A and ending with the date on which the information requested is last
received by the Principal Commissioner or Commissioner or a period of one year, whichever is less;
or
(x) the period commencing from the date on which a reference for declaration of an arrangement
to be an impermissible avoidance arrangement is received by the Principal Commissioner or
Commissioner under sub-section (1) of section 144BA and ending on the date on which a direction
under sub-section (3) or sub-section (6) or an order under sub-section (5) of the said section is
received by the Assessing Officer,
shall be excluded:
Provided that where immediately after the exclusion of the aforesaid period, the period of limitation
referred to in clause (a) or clause (b) of this sub-section available to the Assessing Officer for making an
order of assessment or reassessment, as the case may be, is less than sixty days, such remaining period
shall be extended to sixty days and the aforesaid period of limitation shall be deemed to be extended
accordingly:
Provided further that where the period available to the Transfer Pricing Officer is extended to sixty
days in accordance with the proviso to sub-section (3A) of section 92CA and the period of limitation
available to the Assessing Officer for making an order of assessment or reassessment, as the case may be,
is less than sixty days, such remaining period shall be extended to sixty days and the aforesaid period of
limitation shall be deemed to be extended accordingly:]
1[Provided also that where a proceeding before the Settlement Commission abates under
section 245HA, the period of limitation available under this section to the Assessing Officer for making
an order of assessment or reassessment, as the case may be, shall, after the exclusion of the period under
sub-section (4) of section 245HA, be not less than one year; and where such period of limitation is less
than one year, it shall be deemed to have been extended to one year.]
153C.Assessment of income of any other person.—2[(1)] 3[Notwithstanding anything contained
in section 139, section 147, section 148, section 149, section 151 and section 153, where the Assessing
Officer is satisfied that,—
(a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned,
belongs to; or
(b) any books of account or documents, seized or requisitioned, pertains or pertain to, or any
information contained therein, relates to,
a person other than the person referred to in section 153A, then, the books of account or documents or
assets, seized or requisitioned shall be handed over to the Assessing Officer having jurisdiction over such
the period commencing from the date on which an application is made before the Authority
for Advance Rulings under sub-section
of section 245Q and ending with the date on which the
order rejecting the application is received by the Principal Commissioner or Commissioner under
sub-section
of section 245R; or
the period commencing from the date on which an application is made before the Authority
for Advance Rulings under sub-section
of section 245Q and ending with the date on which the
advance ruling pronounced by it is received by the Principal Commissioner or Commissioner under
sub-section
of section 245R; or
the period commencing from the date of annulment of a proceeding or order of assessment
or reassessment referred to in sub-section
of section 153A, till the date of the receipt of the order
setting aside the order of such annulment, by the Principal Commissioner or Commissioner; or
the period commencing from the date on which a reference or first of the references for
exchange of information is made by an authority competent under an agreement referred to in
section 90 or section 90A and ending with the date on which the information requested is last
received by the Principal Commissioner or Commissioner or a period of one year, whichever is less;
or
the period commencing from the date on which a reference for declaration of an arrangement
to be an impermissible avoidance arrangement is received by the Principal Commissioner or
Commissioner under sub-section
of section 144BA and ending on the date on which a direction
under sub-section
or sub-section
or an order under sub-section
of the said section is
received by the Assessing Officer,
shall be excluded:
Provided that where immediately after the exclusion of the aforesaid period, the period of limitation
referred to in clause
or clause
of this sub-section available to the Assessing Officer for making an
order of assessment or reassessment, as the case may be, is less than sixty days, such remaining period
shall be extended to sixty days and the aforesaid period of limitation shall be deemed to be extended
accordingly:
Provided further that where the period available to the Transfer Pricing Officer is extended to sixty
days in accordance with the proviso to sub-section
of section 92CA and the period of limitation
available to the Assessing Officer for making an order of assessment or reassessment, as the case may be,
is less than sixty days, such remaining period shall be extended to sixty days and the aforesaid period of
limitation shall be deemed to be extended accordingly:]
1[Provided also that where a proceeding before the Settlement Commission abates under
section 245HA, the period of limitation available under this section to the Assessing Officer for making
an order of assessment or reassessment, as the case may be, shall, after the exclusion of the period under
sub-section
of section 245HA, be not less than one year; and where such period of limitation is less
than one year, it shall be deemed to have been extended to one year.]
153C.Assessment of income of any other person.—2[
any money, bullion, jewellery or other valuable article or thing, seized or requisitioned,
belongs to; or
any books of account or documents, seized or requisitioned, pertains or pertain to, or any
information contained therein, relates to,
a person other than the person referred to in section 153A, then, the books of account or documents or
assets, seized or requisitioned shall be handed over to the Assessing Officer having jurisdiction over such