94. Limitation for assessment.

94.  Limitation  for  assessment.-

¹[(1) Subject to the provisions of sub-sections (2) and (3), after the expiry of-

(a) two years from the end of the assessment year in which the income was first assessable if the assessment is to be made as a result of audit under section 82BB;

(b) three years from the end of the relevant assessment year in which the income was first assessable if the assessment is to be made under section 107C; or

(c) six months from the end of the assessment year in which the income was first assessable if the assessment is to be made in a case other than the cases mentioned in clause (a) or (b);

no order of assessment under the provisions of this Chapter, in respect of any income, shall be made.

(2) An assessment under section 93 may be made within two years from the end of the year in which the notice under sub-section (1) of
section 93 was issued.]

²[(1)  Subject  to  the  provisions  of  subsections (2) and (3), no order of assessment under the provisions of this Chapter in respect of any income shall be made after the expiry of six months from the end of the assessment year in which the income was first assessable.]

³[(1A)  Notwithstanding  anything  contained  in  sub-section  (1),  no  order  of assessment under ⁴[sub-section (3) of section 82BB] shall be made-
(a) after the expiry of two years from the end of the assessment year in which the income was first assessable ⁵[.or
[(b) after the expiry of the period of fifteen months from the end of the month in which the return is submitted, which ever is earlier.]

⁶[(1B)  Notwithstanding  anything  contained  in  sub-section  (1)  or  (1A),  no order of assessment under section 107C of this Ordinance shall be made after the  expiry  of  three  years  from  the  end  of  the  assessment  year  in  which  the income was first assessable.]
(2) Notwithstanding anything contained in sub-section (1), assessment under section 93 may be made-
(a) in the cases falling under section 93(3)(a) and (b), within⁷[two years] from the end of the year in which notice under the said subsection  was  issued  ;  and  (b)  in  the  cases  falling  under  section 93(3)(c), within⁸[one year] from the end of the year in which notice under the said sub-section was issued.

(3)  Notwithstanding  anything  contained  in  this  section,  limiting  the  time within  which  any  action  may  be  taken,  or  any  order  or  assessment  may  be made, order or assessment, as the case may be, to be made on the assessee or any  other  person  in  consequence  of,  or  to  give  effect  to,  any  finding  or direction contained in an order under ⁹[sections 120, 121A, 156, 159, 161 or 162 or, in the case of a firm, an assessment to be made on a partner of a firm in consequence of an assessment made on the firm,
¹⁰[shall be made within thirty  days]  from  the  date  on  which  the  order  was  communicated  and  such revised order shall be communicated to the assessee within thirty days next following ¹¹[:

Provided that  where an  order of  assessment has been  set  aside  by  any authority in that case the assessment shall be made within forty five days from the date on which the order was communicated to him.]

Explanation I  -  Where, by an order under ¹²[sections 120, 121A, 156, 159, 161 or 162], any income is excluded from the total income of the assessee for an  assessment  year,  an  assessment  of  such  income  for  another  assessment year  shall,  for  the  purposes  of  this  section,  be  deemed  to  be  one  made  in consequence of, or to give effect to, any finding or direction contained in the said order.

Explanation II  -  Where, by an order under ¹³[sections 120, 121A, 156, 159,161 or 162], any income is excluded from the total income of one person and held  to  be  the  income  of  another  person,  an  assessment  of  such  income  of such other person, shall, for the purposes of this section, be deemed to be one made  in  consequence  of,  or  to  give  effect  to,  any  finding  or  direction contained in the said order. ¹⁴[(4)  where  the  Deputy  Commissioner  of  Taxes  fails  to  give  effect  to  any finding or direction contained in an order referred to in sub-section (3) within the  period  stipulated  therein,  such  failure  of  the  Deputy  Commissioner  of Taxes shall be construed as misconduct.]

.................................................................................

¹Ins. by F.A. 2017

²Subs. for "five" by F.A. 2012

³Ins. by F.A. 2003
⁴Subs. for  "sub-section  (2)  of  section  82B,  sub-section  (3)  of  section  82BB or  sub-section  (2)  of
83A" by F.O. 2008
⁵Subs. for "full-stop" for "semi-colon" and omitted "or" and clause (b) by F.A. 2010
⁶Ins. new sub-section (IB) by F.A. 2012
⁷Subs. for "four years" by F.A. 1995
⁸Subs. for "two years" by F.A. 1995

⁹Subs. for "sections 120,156,159,161 or 162" by F.A. 2009
¹⁰Subs. the words "may made within sixty days" by F.A. 2002
¹¹Ins. by F.A. 2004
¹²Subs. for "sections 120, 156, 159, 161 or 162" by F.A. 2009
¹³Subs. for "sections 120, 156, 159, 161 or 162" by F.A. 2009
¹⁴Ins. by F.A. 2002

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