(2)[ Nothing contained in this section limiting the time within which any proceeding for assessment or reassessment may be commenced, shall apply to an assessment or reassessment to be made on such person in consequence of or to give effect to any finding or direction contained in an order under section 23, 24, 25, 27 or 29 ] [ Inserted by Act 46 of 1964, Section 17 (w.e.f. 1.4.1965).][or by a Court in any proceedings under any other law] [ Inserted by Act 4 of 1988, Section 139 (w.e.f. 1.4.1989).]:[Provided that the provisions of this sub-section shall not apply in any case where any such assessment or re-assessment relates to an assessment year in respect of which an assessment or re-assessment could not have been made at the time the order which was the subject-matter of the appeal, reference or revision, as the case may be, was made by reason of any provision limiting the time within which any action for assessment of re-assessment may be taken.] [ Inserted by Act 46 of 1964, Section 17 (w.e.f. 1.4.1965).][17-A. Time-limit for completion of assessment and reassessment.- ][(1) No order of assessment shall be made under section 16 at any time after the expiry of two years from the end of the assessment year in which the net wealth was first assessable:] [Substituted by Act 4 of 1988, Section 104, for sub-Sections (1) and (2)(w.e.f. 1.4.1989). ][Provided that,-(a)where the net wealth was first assessable in the assessment year commencing on the 1st day of April, 1987, or any earlier assessment year, such assessment may be made on or before the 31st day of March, 1991;(b)where the net wealth was first assessable in the assessment year commencing on the 1st day of April, 1988, such assessment may be made on or before the 31st day of March, 1992:] [ Substituted by Act 13 of 1989, Section 28, for the proviso (w.e.f. 1.4.1989).][Provided further that in case the assessment year in which the net wealth was first assessable is the assessment year commencing on the 1st day of April, 2004 or any subsequent year, the provisions of this sub-section shall have effect as if for the words "two years", the words "twenty-one months" had been substituted.] [ Inserted by Act 21 of 2006, Section 57 (w.e.f. 1.6.2006).]
