Amendment status not verified — confirm the current text below against the official source.
Period of limitation of completion of assessment proceedings: - Except a proceeding under sub-section (5) of section I 1 and sub-section (1) and (2) of section 13, no proceeding for assessment of the Lax payable by an assessec under this Act m respect of any penod shall be muiated and completed except before the expiry of two years from the expiry of such period; Provided that a proceeding for re-assessment in pursuance of or as a result of an order on appeal, revision and reference or review shall be rrutiared and completed before the expiry of two years from the date of communication or such order to the assessing authority. Provided further while computing the period of limitation specified for assessment or reassessment, as the case may be, the time during which any assessment or reassessment proceeding remained pending for disposal or stayed under the order ofa competent Court shall be excluded