Section - 153, Income-tax Act, 1961 - FA, 2021

44[Time limit for completion of assessment, reassessment and recomputation.

45
153.(1) No order of assessment46 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:
47[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 "twenty-one 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:]
47a
[Provided also that in respect of an order of assessment relating to the assessment year commencing on or
after the 1st day of April, 2021, the provisions of this sub-section shall have effect, as if for the words "twenty-one
months", the words "nine 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:
47[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:
47b[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:
48[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 any document 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 specified in sub-section (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 direction49 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) of section 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:
50[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 proceeding51 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
(iv)   the period commencing from the date on which the Assessing Officer directs the assessee to get his
accounts audited under sub-section (2A) of section 142 and—
 (a)   ending with the last date on which the assessee is required to furnish a report of such audit
under that sub-section; or
(b)   where such direction is challenged before a court, ending with the date on which the order
setting aside such direction is received by the Principal Commissioner or Commissioner; or
(v)   the period commencing from the date on which the Assessing Officer makes a reference to the Valuation
Officer under sub-section (1) of section 142A and ending with the date on which the report of the
Valuation Officer is received by the Assessing Officer; or
(vi)   the period (not exceeding sixty days) commencing from the date on which the Assessing Officer
received the declaration under sub-section (1) of section 158A and ending with the date on which the
order under sub-section (3) of that section is made by him; or
(vii)   in a case where an application made before the Income-tax Settlement Commission is rejected by it or is
not allowed to be proceeded with by it, the period commencing from the date on which an application is
made before the Settlement Commission under section 245C and ending with the date on which the
order under sub-section (1) of section 245D is received by the Principal Commissioner or Commissioner
under sub-section (2) of that section; or
(viii)   the period commencing from the date on which an application is made before the Authority for Advance
Rulings 51a[or before the Board 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
(ix)   the period commencing from the date on which an application is made before the Authority for Advance
Rulings 51a[or before the Board 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
(x)   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
(xi)   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
sub-sections (1), (2), (3) and sub-section (8) available to the Assessing Officer for making an order of assessment,
reassessment or recomputation, 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, reassessment or recomputation, 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 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,
reassessment or recomputation, 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; and for the purposes of determining the period of limitation under
sections 149, 52[***] 154, 155 and 158BE and for the purposes of payment of interest under section 244A, this
proviso shall also apply accordingly:
52a
[Provided also that where the assessee exercises the option to withdraw the application under sub-section (1)
of section 245M, the period of limitation available under this section to the Assessing Officer for making an order
of assessment, reassessment or recomputation, as the case may be, shall, after the exclusion of the period under
sub-section (5) of the said section, 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:
Provided also that for the purposes of determining the period of limitation under sections 149, 154 and 155, and
for the purposes of payment of interest under section 244A, the provisions of the fourth proviso shall apply
accordingly.
]
Explanation 2. —For the purposes of this section, where, by an order referred to in clause (i) of sub-section (6),—
(a)   any income is excluded from the total income of the assessee for an assessment year, then, an
assessment of such income for another assessment year shall, for the purposes of section 150 and this
section, be deemed to be one made in consequence of or to give effect to any finding or direction
contained in the said order; or
(b)   any income is excluded from the total income of one person and held to be the income of another
person, then, an assessment of such income on such other person shall, for the purposes of section 150
and this section, be deemed to be one made in consequence of or to give effect to any finding or
direction contained in the said order, if such other person was given an opportunity of being heard
before the said order was passed.]

44.
Substituted by the Finance Act, 2016, w.e.f. 1-6-2016. Prior to its substitution, section 153, as amended by
the Direct Taxes (Amendment) Act, 1964, w.e.f. 6-10-1964, Finance Act, 1968, w.e.f. 1-4-1968, Taxation
Laws (Amendment) Act, 1970, w.e.f. 1-4-1971, Taxation Laws (Amendment) Act, 1975, w.e.f. 1-1-1976/1-
4-1976, Taxation Laws (Amendment) Act, 1984, w.e.f. 1-10-1984, Direct Tax Laws (Amendment) Act,
1987, w.e.f. 1-4-1988/ 1-4-1989, Finance Act, 1989, w.e.f. 1-4-1989, Finance (No. 2) Act, 1991, w.e.f. 27-
9-1991, Finance (No. 2) Act, 1996, w.e.f. 1-4-1997, Finance Act, 2001, w.e.f. 1-6-2001, Finance Act, 2002,
w.e.f. 1-4-2003, Finance (No. 2) Act, 2004, w.e.f. 1-10-2004, Finance Act, 2005, w.e.f. 1-4-2006, Finance
Act, 2006, w.e.f. 1-6-2006, Finance Act, 2007, w.e.f. 1-6-2007, Finance Act, 2008, w.r.e.f. 1-6-2003/1-6-
2007, Finance Act, 2011, w.e.f. 1-6-2011, Finance Act, 2012, w.e.f. 1-7-2012/1-4-2013, Finance Act, 2013,
w.r.e.f. 1-7-2012/w.e.f. 1-4-2013, 1-6-2013 and 1-4-2016 and Finance (No. 2) Act, 2014, w.r.e.f. 1-6-
2013/w.e.f. 1-10-2014, read as under :
'153. Time limit for completion of assessments and reassessments.—(1) No order of assessment shall be
made under section 143 or section 144 at any time after the expiry of—
(a)   two years from the end of the assessment year in which the income was first assessable ; or
(b)   one year from the end of the financial year in which a return or a revised return relating to
the assessment year commencing on the 1st day of April, 1988, or any earlier assessment
year, is filed under sub-section (4) or sub-section (5) of section 139,
whichever is later :
Provided that in case the assessment year in which the income was first assessable is the assessment year
commencing on or after the 1st day of April, 2004 but before the 1st day of April, 2010, the provisions of
clause (a) shall have effect as if for the words "two years", the words "twenty-one months" had been
substituted :
Provided further that in case the assessment year in which the income was first assessable is the
assessment year commencing on or after the 1st day of April, 2005 but before the 1st day of April, 2009
and during the course of the proceeding for the assessment of total income, a reference under sub-section
(1) of section 92CA—

(i)   was made before the 1st day of June, 2007 but an order under sub-section (3) of that section
has not been made before such date; or
(ii)   is made on or after the 1st day of June, 2007,
the provisions of clause (a) shall, notwithstanding anything contained in the first proviso, have effect as if
for the words "two years", the words "thirty-three months" had been substituted:
Provided also that in case the assessment year in which the income was first assessable is the assessment
year commencing on the 1st day of April, 2009 or any subsequent assessment year and during the course of
the proceeding for the assessment of total income, a reference under sub-section (1) of section 92CA is
made, the provisions of clause (a) shall, notwithstanding anything contained in the first proviso, have effect
as if for the words "two years", the words "three years" had been substituted.
(1A) No order of assessment shall be made under section 115WE or section 115WF at any time after the
expiry of twenty-one months from the end of the assessment year in which the fringe benefits were first
assessable.
(1B) No order of assessment or reassessment shall be made under section 115WG after the expiry of nine
months from the end of the financial year in which the notice under section 115WH was served.
(2) No order of assessment, reassessment or recomputation shall be made under section 147 after the expiry
of one year from the end of the financial year in which the notice under section 148 was served :
Provided that where the notice under section 148 was served on or after the 1st day of April, 1999 but
before the 1st day of April, 2000, such assessment, reassessment or recomputation may be made at any
time up to the 31st day of March, 2002 :
Provided further that where the notice under section 148 was served on or after the 1st day of April, 2005
but before the 1st day of April, 2011, the provisions of this sub-section shall have effect as if for the words
"one year", the words "nine months" had been substituted :
Provided also that where the notice under section 148 was served on or after the 1st day of April, 2006 but
before the 1st day of April, 2010 and during the course of the proceedings for the assessment or
reassessment or recomputation of total income, a reference under sub-section (1) of section 92CA—

(i)   was made before the 1st day of June, 2007 but an order under sub-section (3) of that section
has not been made before such date; or
(ii)   is made on or after the 1st day of June, 2007,
the provisions of this sub-section shall, notwithstanding anything contained in the second proviso, have
effect as if for the words "one year", the words "twenty-one months" had been substituted:
Provided also that where the notice under section 148 was served on or after the 1st day of April, 2010 and
during the course of the proceeding for the assessment or reassessment or recomputation of total income, a
reference under sub-section (1) of section 92CA is made, the provisions of this sub-section shall,
notwithstanding anything contained in the second proviso, have effect as if for the words "one year", the
words "two years" had been substituted.
(2A) Notwithstanding anything contained in sub-sections (1), (1A), (1B)and (2), in relation to the
assessment year commencing on the 1st day of April, 1971, and any subsequent assessment year, an order
of fresh assessment in pursuance of an order under section 250 or section 254 or section 263 or section 264,
setting aside or cancel ling an assessment, may be made at any time before the expiry of one year from the
end of the financial year in which the order under section 250 or 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 Chief Commissioner or Chief
Commissioner or Principal Commissioner or Commissioner:
Provided that where the order under section 250 or 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 Chief Commissioner or Chief
Commissioner or Principal Commissioner or Commissioner, on or after the 1st day of April, 1999 but
before the 1st day of April, 2000, such an order of fresh assessment may be made at any time up to the 31st
day of March, 2002 :
Provided further 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, 2005 but before the 1st day of April, 2011, the provisions of this sub-section shall have
effect as if for the words "one year", the words "nine months" had been substituted:
Provided also 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, 2006 but before the 1st day of April, 2010, and during the course of the proceedings for the
fresh assessment of total income, a reference under sub-section (1) of section 92CA—
(i)   was made before the 1st day of June, 2007 but an order under sub-section (3) of section
92CA has not been made before such date; or
(ii)   is made on or after the 1st day of June, 2007,
the provisions of this sub-section shall, notwithstanding anything contained in the second proviso, have
effect as if for the words "one year", the words "twenty-one months" had been substituted:
Provided also 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, 2010, and during the course of the proceeding for the fresh assessment of total income, a
reference under sub-section (1) of section 92CA is made, the provisions of this sub-section shall,
notwithstanding anything contained in the second proviso, have effect as if for the words "one year", the
words "two years" had been substituted.
(3) The provisions of sub-sections (1), (1A), (1B) and (2) shall not apply to the following classes of
assessments, reassessments and recomputations which may, subject to the provisions of sub-section (2A),
be completed at any time—
(i)   [***]
(ii)   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, 254, 260, 262, 263, or 264 or in an order of any court in a proceeding otherwise
than by way of appeal or reference under this Act ;
(iii)   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.
(4) Notwithstanding anything contained in the foregoing provisions of this section, sub-section (2) of
section 153A and 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 one
year from the end of the month of such revival or within the period specified in this section or sub-section
(1) of section 153B, whichever is later.
Explanation 1. —In computing the period of limitation for the purposes of this section—
 (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
(iia)   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
 
(iii)   the period commencing from the date on which the Assessing Officer directs the assessee to
get his accounts audited under sub-section (2A) of section 142 and—
(a)   ending with the last date on which the assessee is required to furnish a report of
such audit under that sub-section; or
(b)   where such direction is challenged before a court, ending with the date on which the
order setting aside such direction is received by the Principal Commissioner or
Commissioner, or
(iv)   the period commencing from the date on which the Assessing Officer makes a reference to
the Valuation Officer under sub-section (1) of section 142A and ending with the date on
which the report of the Valuation Officer is received by the Assessing Officer, or
(iva)   the period (not exceeding sixty days) commencing from the date on which the Assessing
Officer received the declaration under sub-section (1) of section 158A and ending with the
date on which the order under sub-section (3) of that section is made by him, or
(v)   in a case where an application made before the Income-tax Settlement Commission under
section 245C is rejected by it or is not allowed to be proceeded with by it, the period
commencing from the date on which such application is made and ending with the date on
which the order under sub-section (1) of section 245D is received by the Principal
Commissioner or Commissioner under sub-section (2) of that section, or
(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 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
(ix)   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 time or period, the period of
limitation referred to in sub-sections (1), (1A), (1B), (2), (2A) and (4) available to the Assessing Officer for
making an order of assessment, reassessment or recomputation, 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 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, reassessment or recomputation, 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; and for the purposes of
determining the period of limitation under sections 149, 153B, 154, 155, 158BE and 231 and for the
purposes of payment of inter est under section 243 or section 244 or, as the case may be, section 244A, this
proviso shall also apply accordingly.
Explanation 2. —Where, by an order referred to in clause (ii) of sub-section (3), any income is excluded
from the total income of the assessee for an assessment year, then, an assessment of such income for
another assessment year shall, for the purposes of section 150 and this section, be deemed to be one made
in consequence of or to give effect to any finding or direction contained in the said order.
Explanation 3. —Where, by an order referred to in clause (ii) of sub-section (3), any income is excluded
from the total income of one person and held to be the income of another person, then, an assessment of
such income on such other person shall, for the purposes of section 150 and this section, be deemed to be
one made in consequence of or to give effect to any finding or direction contained in the said order,
provided such other person was given an opportunity of being heard before the said order was passed.'
45.
For relevant case laws, see Taxmann's Master Guide to Income-tax Act.
46.
For the meaning of the expression "order of assessment", see Taxmann's Direct Taxes Manual, Vol. 3.
47.
Inserted by the Finance Act, 2017, w.e.f. 1-4-2017.
47a.
Inserted by the Finance Act, 2021, w.e.f. 1-4-2021.
47b.
Inserted by the Finance Act, 2017, w.e.f. 1-4-2017.
48.
Inserted by the Finance Act, 2017, w.r.e.f. 1-6-2016.
49.
For the meaning of the expression "finding or direction", see Taxmann's Direct Taxes Manual, Vol. 3.
50.
Inserted by the Finance Act, 2017, w.r.e.f. 1-6-2016.
51.
For the meaning of the expression "assessment proceeding", see Taxmann's Direct Taxes Manual, Vol. 3.
51a.
Inserted by the Finance Act, 2021, w.e.f. 1-4-2021.
52.
Figures "153B," omitted by the Finance Act, 2017, w.e.f. 1-4-2017.
52a.
Inserted by the Finance Act, 2021, w.r.e.f. 1-2-2021.