Time barred assessments

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P N RAJAN (Querist)
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26 November 2022 Against belated return filed by the assesee for the assessment year 2020-21 on 31/10/2021, assessment order was passed on 31/10/2022.

Whether assessment order is time barred ?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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26 November 2022 No.

Sec.153(1).... Passing assessment order under section 143 or 144

a) Within 21 months from end of the assessment year in which income was first assessable. [Applicable for assessment year 2017-18 or before]

b) Within 18 months from end of the assessment year in which income was first assessable. [Applicable for assessment year 2018-19]

c) Within 12 months from end of the assessment year in which income was first assessable. [Applicable for assessment year 2019-20]

d) Within 18 months from end of the assessment year in which income was first assessable [Applicable for assessment year 2020-21].....................

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