(i) where a fresh assessment is made under section 146;

(ii) where the assessment, reassessment or recomputation is made on the assessee or any person in consequence of or to give effect to any finding or direction contained in an order under section- 250, 254, 260, 262, 263 or 264 6[ or in an order of any court in a proceeding otherwise than by way of appeal or reference under this Act];

(iii) where, in the case of a firm, an assessment is made on a partner of the firm in consequence of an assessment made on the firm under section 147. 7[ Explanation 1-In computing the period of limitation for the purposes of this section- 2 Substituted for" Income- tax" by the Direct Tax Laws (Amendment) Act, 1987 , w. e. f. 1- 4- 1988 . 3 Substituted for" Commissioner", ibid. 4 Ibid. 5 Inserted by the Taxation Laws (Amendment) Act, 1970 , w. e. f. 1- 4- 6 Inserted by the Direct Taxes (Amendment) Act, 1964 , w. e. f. 6- 10- 1964 . 7 Substituted by the Taxation Laws (Amendment) Act, 1975 , w. e. f. 1- 1- 1976 as regards clauses (i), (ii) and (iv) and w. e. f. 1- 4- 1976 as regards clauses (iii) and (v).

(i) the time taken in reopening the whole or any part of the proceeding or in giving an opportunity to the assessee to be reheard under the proviso- to section 129, or

(ii) the period during which the assessment proceeding is stayed by an order or injunction of any court, or

(iii) the period commencing from the date on which the 1[ Assessing] Officer directs the assessee to get his accounts audited under subsection (2A) of section 142 and ending with the date on which the assessee furnishes a report of such audit under that sub- section, or

(iv) 2[ Omitted by the Direct Tax Laws (Amendment) Act, 1987 , w. e. f. 1- 4- 1989 .]

(iva) 3[ the period (not exceeding sixty days) commencing from the date on which the 4[ Assessing] Officer received the declaration under sub- section (1) of section 158A and ending with the date on which the order under sub- section (3) of that section is made by, him, or]

(v) in a case where an application made before the Income- tax Settlement Commission under section 245C is rejected by it or is not allowed to be proceeded with by it, the period commencing from the date on which such application is made and ending with the date on which the order under sub- section (1) of section 245D is received by the Commissioner under sub- section (2) of that section, shall be excluded:] 5[ Provided that where immediately after the exclusion of the aforesaid time or period, the period of limitation referred to in sub- sections (1), (2) and (2A) available to the Assessing Officer for making an order of assessment, reassessment or recomputation, as the case may be, is less than sixty days, such remaining period shall be extended to sixty days and the aforesaid period of limitation shall be deemed to be extended accordingly,] Explanation 2.- Where, by an order 6[ referred to in clause (ii) of subsection (3)], any income is excluded, from the total income of the assessee for an assessment year, then, an assessment of such income for another assessment year shall, for the purposes of section 150 and 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 3.- Where, by an order 1[ referred to in clause (ii) of subsection (3)],; any income is excluded from the total income- of one person and held to be the income of another person, then, an assessment of such income on such other person shall, for the purposes of section 150 and 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, provided such other person was given an opportunity of being heard before the said order was passed. Rectification of mistake 2