Time limit for completion of assessment, reassessment and recomputation

No order in respect of proceedings mentioned in column B of the Table below shall be made after expiry of the period specified in column D of the said Table and calculated from the date as mentioned in column C thereof. Table Sl. No. Nature of Date from which time limit Time limit Proceedings or for completion is to be for orders calculated completion A B C D 1. Assessment order End of the financial year One year. under section 270(10) succeeding the relevant tax or section 271. year. 2. Assessment order End of the financial year in One year. under section 270(10) which such updated return or 271, where an was furnished. updated return of income is furnished under section 263(6). 3. Assessment order End of the financial year in One year. under section 270(10) which such return was or 271, where return furnished. is furnished in consequence of order under section 239(3)(b). 4. Assessment, End of the financial year in One year. reassessment or which notice under section recomputation order 280 was served. under section 279. 5. Fresh assessment End of the financial year in One year. order or fresh order which order under section 359 under in or 363 is received, or order pursuance to an order under or 378 is under , or passed, by the jurisdictional 363, or 377, or 378 Principal Commissioner or setting aside or Commissioner. canceling an assessment order or an order under . 6. Assessment or End of the month in which One year. reassessment which such assessment or stands revived, as per reassessment stands revived. section 153A(2) of Income-tax Act, 1961 (43 of 1961), or . A B C D 7. Assessment End of the month in which One year. required to be made assessment order in the case in the hands of of firm is passed. partner, in 5 consequence of an assessment made on the firm under . 8. Assessment, End of the month in which One year. 10 reassessment or such order is received, or recomputation passed, by the jurisdictional required to be made Principal Commissioner or on the assessee or Commissioner. any person in 15 consequence of or to give effect to any finding or direction contained in an order–– 20 (i) under or 363 or 365(10), or 368, or 377 or 378; or (ii) of any Court in a proceeding otherwise than by way of appeal or reference under 30 this Act. 9. Order giving End of the month in which One year. effect to an order order under or under or 363 or 365(10) or 368 is 363 or 365(10) or received, or order under 35 368 or 377 or 378, or 378 is passed, otherwise than by by the jurisdictional Principal making a fresh Commissioner or assessment or Commissioner. reassessment or fresh 40 order under , where–– (i) verification of any issue by way of submission of any 45 document by the assessee or any other person is to be carried out; or (ii) an opportunity 50 of being heard is to be given to the assessee. A B C D 10. Order giving effect to End of the month in Six months, an order under section which order under extendable to 359 or 363 or 365(10) or or 363 or nine months 368 or 377 or 378 365(10) or 368 is with the otherwise than by making received, or order under approval of a fresh assessment or or 378 is authorities as reassessment or fresh passed by the per section order under . jurisdictional Principal 2(62) and (64) Commissioner or Commissioner. 11. Modification of End of the month in Two assessment, reassessment which such order under months. or recomputation to give is received effect to the order passed by the Assessing under read Officer. with