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Section - 245A - Conclusion of Proceedings -

 

In the chapter dealing with settlement of cases, the term ‘case’ has been defined to mean a case in which any proceeding for assessment is pending before an AO. Explanation (iv) provides that proceeding for assessment shall be deemed to commence from the date of filing of return and conclude on the date on which the assessment is made or on expiry of two years from the end of relevant assessment year, in case no assessment is made.

 

Consequent to amendment in section 153, the time limit for completion of assessment has been changed in respect of various cases. As a consequential measure the mention of expiry of two years is not as per the provision of that section and according the same is to be substituted by the time specified for making assessment under section 153(1).


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