1. A brief summary on time limits on assessment procedures , appeals and revision
Main
section
Particular Time limit for the main section
Section in
which due date
is refereed
Remarks (if any)
30th September of RAY -
a) companies,
b) assessee who are subjected to tax audit and c) working
partner of a firm which is subjected to tax audit.
30th November of RAY - entitles subjected to transfer
pricing regulation(either international or domestic or both)
31st July of RAY - other assessees
139(3) Loss return Same as 139(1) Same section
Due date can be extended by
CBDT
139(4) Belated return
Completion of assessment or 1 year from the end of RAY,
whichever is earlier.
Same section
Due date can be extended by
CBDT
139(4A)
Return of public charitable trust / religious
trust / other trust
30th September of RAY Same section
Due date can be extended by
CBDT
139(4B) Political parties 30th September of RAY Same section
Due date can be extended by
CBDT
139(4C)
Notified persons to file return under Sec.
139(4C)
30th September of RAY Same section
Due date can be extended by
CBDT
139(4D)
Notified persons to file return under Sec.
139(4D)
30th September of RAY Same section
Due date can be extended by
CBDT
139(5) Revised return
Before completion of assessment or 1 year from the end of
RAY, whichever is earlier
Same section
Revised return replaces the original
return once filed.
139(9) Defective return
To be rectified within 15 days on receipt of intimation of
defects from AO or such time as extended by AO
Same section
The word "may" used in this
section is to be treated as "shall".
143(1) Intimation of return Within 1 year from end of FY in which return is filed Same section
Need not be sent if notice under
section 143(2) is sent.
143(2) Notice for assessment
To be issued within 6 months from end of the FY in which
return is filed
Same section
Subject to section 292BB- notice
deemed to be valid in certain
circumstances
Assessment is to be completed within 24 months from end
of RAY
153(1) Subject to explanations of sec.153
If reference is made to TPO then assessment is to be
completed within 36 months from end of RAY
153(1) Subject to explanations of sec.153
144 Best judgment assessment
Assessment is to be completed within 24 months from end
of RAY
153(1) Subject to explanations of sec.153
Assessment is to be completed within 1 year from end of
FY in which notice for income escaping assessment under
148 is served
153(2) Subject to explanations of sec.153
If reference is made to TPO then assessment is to be
completed within 2 years from end of FY in which notice
for income escaping assessment under 148 is served
153(2) Subject to explanations of sec.153
139(1) Due date for filing of return Same section
Due date can be extended by
CBDT
143(3) Assessment
147 Income escaping assessment
If original assessment was cancelled or set
aside by an order under sec 250/254
Fresh assessment is to be completed within 1 year from end
of FY in which order u/s 250 or 254 is received by the
chief commissioner or commissioner
153(2A)
This will apply when original order
is cancelled by commissioner or
chief commissioner or ITAT or
revised by commissioner. the
original order can be order under
143(3) or 147.
If original assessment was cancelled or set
aside by an order under sec 250/254
Fresh assessment (transfer pricing case and being referred
to TPO) is to be completed within 2 year from end of FY
in which order u/s 250 or 254 is received by the chief
commissioner or commissioner
153(2A)
143(3)/147

2. A brief summary on time limits on assessment procedures , appeals and revision
Main
section
Particular Time limit for the main section
Section in
which due date
is refereed
Remarks (if any)
Time taken to re-open the whole or part of any proceedings
or in giving opportunity to the assessee to be reheard incase
of change in jud. AO or 60 days which ever is greater
Proviso and
explanation 1 to
153
Period during which the assessment is stayed by any court
or 60 days which ever is greater
Proviso and
explanation 1 to
153
Period commencing from date of direction for audit under
142(2A) to last date on which the assessee is required to
furnish the report or 60 days whichever is greater
Proviso and
explanation 1 to
153
No. of days taken by AO to consider the application made
by assessee u/s 158A subject to maximum of 60 days
Proviso and
explanation 1 to
153
Application made to settlement commission ,
(date of application to the date of receipt of order u/s
245D by commissioner) or 60 days whichever is greater
Proviso and
explanation 1 to
153
If application made to settlement commission abates (date
of application to the date of receipt of order u/s 245HA(4)
by commissioner) or 1 year whichever is greater.
Proviso and
explanation 1 to
153
Application made to AAR , (date of application to the date
of receipt of order u/s 245R by commissioner) or 60 days
whichever is greater
Proviso and
explanation 1 to
153
Period commencing from the date on which reference for
exchange of information made by an authority and ending
with the date on which the information is received by
commissioner , or a period of 1 year whichever is less.
Proviso and
explanation 1 to
153
Period commencing from date of direction for audit under
142(2A) to date on which the order setting aside such
direction is received by commissioner or 60 days whichever
is greater
Proviso and
explanation 1 to
153
4 years from end of RAY - if income escaping assessment is
less than 1 lakh
149
6 years from end of RAY - if income escaping assessment is
more than or equal to 1 lakh
149
16 years from end of RAY , if income escaping assessment
is arising from asset situated in foreign country.
149
This will apply when original order
is cancelled by commissioner or
chief commissioner or ITAT or
revised by commissioner. the
original order can be order under
143(3) or 147.If original assessment was cancelled or set
aside by an order under sec 263/264
Fresh assessment is to be completed before 1 year from end
of FY in which order u/s 263 or 264 is passed by chief
commissioner or commissioner
153(2A)
If original assessment was cancelled or set
aside by an order under sec 263/264
Fresh assessment (transfer pricing and referred to TPO) is
to be completed before 2 year from end of FY in which
order u/s 263 or 264 is passed by the chief commissioner
or commissioner
153(2A)
Time limits specified under other section for completion of
assessment or re assessment does not apply to this case
153(3)
Although no time limit for
completion of assessment , time
limit for issue of notice is still
prevailing.
143(3)/147
Assessment is made on a partner of the firm
in consequence to assessment made on the
firm under 147.
Subject to section 292BB- notice
deemed to be valid in certain
circumstances
143(3)/147
148
notice for
income
escaping
assessment
143(3)/147 Extension of time in completing assessment
Specified in sec 149 - time limit keeping
quantum
143(3)/147
Assessment/reassessment/ recomputation is
done in consequence of or to give effect to
any finding or direction or order u/s
250/254/260/262/263/264.

3. A brief summary on time limits on assessment procedures , appeals and revision
Main
section
Particular Time limit for the main section
Section in
which due date
is refereed
Remarks (if any)
No notice for income escaping reassessment can be sent
beyond 4 years if
147
A) assessee has filed his return of income & 147
B) assessee has been assessed under 143(3) & 147
Agent to non resident 6 years from end of RAY 149
Rectification of mistake apparent from
record
4 years from the end of the FY , in which order is passed 154
If assessee makes the application for
rectification
Carrying out rectification or refusing the claim is to be
made within 6 months from the end of the month in which
such application is made.
154
A) if appeal relating to tax deducted u/s 195 - 30 days from
payment of tax
B) if appeal relating to any assessment or penalty- 30 days
from date of serving of notice of demand
C) in any other case - 30 days from date of serving of order
sought to be appealed against.
253 Appeal to the appellate tribunal
60 days from the date on which order has been
communicated to the assessee or commissioner
253(3)
253(4)
Memorandum of cross objections to
appellate tribunal against the appeal
30 days from the receipt of notice for appeal been filed by
the other party.
253(4)
254(2) Rectification of mistake by ITAT 4 years from the date of original order 254(2)
Suo motto or on application by
assessing officer or assessee
260A Appeal to high court
120 days from the date on which order has been received by
the assessee or commissioner or by the chief commissioner.
260A
Only aspects which involve a
substantial question of law can be
appealed to High court
263
Revision of order by commissioner which are
erroneous and prejudicial to the interest of
revenue
No order can be revised beyond 2 years form the end of FY
in which order to be revised was passed
263(2)
If the commissioner acts on his own 1 year from the date on which order was passed 264(2)
If assessee makes the application
A) time limit for making the application 1 year from the date on which order was served 264(3)
B) time limit for passing the revision order
by commissioner
Within 1 year from end of FY in which application was
made.
264(6)
Legends Used by
RAY Relevant Assessment year Venkatesan Murali
FY Financial year Chartered Accountant
AY Assessment Year mvenkat91@live.com
AO Assessing Officer
ITAT Income Tax Appellate Tribunal
AAR Authority of Advance Ruling
TPO Transfer Pricing Officer
CBDT Central board of Direct Taxes
Specified in sec 147 - time limit keeping
assessment status
Subject to section 292BB- notice
deemed to be valid in certain
circumstances
C) he has disclosed fully and truly all materials facts relating
to his return of income during assessment and this does not
apply to income escaping assessment is from asset situated
in foreign currency.
147
No time limit exist for issuance of notice , however the
same will be subject to other restrictions applicable for issue
of notice.
for example: an order pertaining to AY 2008-09 is passed
by high court on 31st Dec 2014 and the assessing officer is
intending reopen the assessment of earlier years on account
of findings of this order , then he can reopen the
assessment of AY 2007-08 and not earlier to that
150(1) and
150(2)
For AY 2006-07 , the maximum
period of 6 years (assuming income
is not from a foreign asset) from
the end of RAY is 31st Dec 2013.
therefore no notice for reopening
can be sent on 31st Dec 2014.
154
246 Appeal to commissioner 249(2)
Consequent to or giving effect to
a) any finding or direction in an order passed
by an authority in appeal or revision or
revision or
b) by a court in any other law,
264
148
notice for
income
escaping
assessment