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Limitation period for assessment of individual when revised return is filed.

Querist : Anonymous (Querist) 28 April 2011 This query is : Resolved 
DEAR SIR, I FILED THE RETURN OF INCOME FOR AY 08-09 ON UNE 30,08. SUBSEQUENTLY I FILED A REVISED RETURN FOR THE SAME ASSESSMENT YEAR 08-09 ON MARCH 31,10 . THE ASSESSMENT HAS YET NOT BEEN FINALISED. MY QUERY IS ;- WILL THE MANDATORY THREE YEAR PERIOD FOR TAX AUTHORITIES TO ASSESS THE RETURN BE OVER BY MARCH 31,2011 OR MARCH 31,2013, 3 YEARS AFTER FILING THE REVISED TAX RETURN FOR AY 08-09 THANKING YOU VINAY KALA APRIL 28,11
R.Ramachandran (Expert) 28 April 2011
Section 153 of the I.T.Act provides as under:
(1) No order of assessment shall bemade under Sec. 143 or Sec. 144 at any time after the expiry of -
(a) twenty one months from the end of the assessment year in which the income was first assessable; or
(b) one year from the end of the financial year in which a return or a revised return relating to the assessment year .....is filed under sub-section(4) or sub-section (5) of Section 139 whichever is later;"

In your case, since you have filed the revised return in the AY 2009-10, the period will get over by 31.3.2011.
Arun Bhatia (Expert) 28 April 2011
Mr. Vinay
Under the provisions of section 153(1), assessment under section 143/144 has to be made within a period of 21 months from the end of the relavent assessment year. In your case, the time is already over on 31-12-2010.
M.Sheik Mohammed Ali (Expert) 28 April 2011
yes, i agree experts
M/s. Y-not legal services (Expert) 29 April 2011
yes.. agree with experts..
Guest (Expert) 29 April 2011
Agree with Ramachandran.
MUKESH SHARMA (Expert) 15 May 2011
your period is completed as on 31-3-2011


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