Limitation to complete assessment u/s 143(3) – A.Y.2019-20

Question And Answer
Subject: Limitation to complete assessment u/s 143(3) – A.Y.2019-20
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Querist: Surendra Mehta, Advocate
Answered by:
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Date: September 9, 2021
Query asked by Surendra Mehta, Advocate
3 Comments

Search & Sezure action u/s 132 was conducted on 19.06.2018. Assessments for the A.Y. 2013-14 to 2018-19 were completed u/s 153A on 14.08.20121. Assessment for the Assessment Year 2019-20 was completed u/s 143(3). The Government has extended date from time to time to complete the assessment u/s 143(3). In the light of extended period what is last date to complete the assessment u/s 143(3) for AO for the Year 2019-20. Kinly inform about latest circular on the subject. It is also requested to please inform whether prior approval to select the case for scrutiny (part priod is searched period) is necessary.

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As per section 153 of the Income-tax Act, 1961 (Act), no order assessment can be under section 143(3) of the Act after a period of 12 months from the end of the Assessment year in which the income was assessable.

Therefore, for AY 2019-20, the Order under section 143(3) of the Act ought to be passed by March 31, 2021.

However, the The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (2020) 422 ITR (St) 116 and subsequent CBDT Notifications have extended the period of limitation from time to time.

As per the latest CBDT Notification No. 74 of 2021 dated June 25, 2021, the last date for completion of assessment is extended to June 30, 2021.

Hope the same clarifies.

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3 comments on “Limitation to complete assessment u/s 143(3) – A.Y.2019-20”
  1. Surendra Mehta , Advocate says:
    September 11, 2021 at 12:20 pm

    Sir/ Madam,

    While answering my query you have stated “As per the latest CBDT Notification No. 74 of 2021 dated June 25, 2021, the last date for completion of assessment is extended to June 30, 2021.” But as per CBDT’s Notification dated 25.06.2021, the date is further extended to 30.09.2021. Kindly clarify the position.

    Reply

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