| Question And Answer | |
|---|---|
| Subject: | Limitation to complete assessment u/s 143(3) – A.Y.2019-20 |
| Category: | Income-Tax |
| Querist: | Surendra Mehta, Advocate |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | Assessment, Limitation, Time limit for issue of scrutiny notice |
| Date: | September 9, 2021 |
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.
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.
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.
The same is extended to September 30, 2021*