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Period of limitation for completion of assessment or reassessment not to apply in certain cases.
18. (1) Notwithstanding the provisions relating to the period of limitation contained in sections 15, 16 and 17, assessment or reassessment, as the case may be, may be made -
(i) in consequence of, or to give effect to, any order made by any court, or any authority under this Act within a period of two years of receipt of copy of such order by the assessing authority;
(ii) before the expiry of five years following the close of the year, which any book, account, register or document seized under section 29 relates to, provided the proceedings do not extend after the expiry of the period specified in third proviso to sub-section (4) of section 29.
(2) Where the assessment or reassessment proceedings relating to any dealer remained stayed including stay of passing the final order for any period, by order of any court, or any authority under this Act, such period shall be excluded in computing the period of limitation for assessment or reassessment specified in section 15, section 16 or section 17, as the case may be. |