130. Time limits.—

(1) For the purposes of section 274, the Commissioner shall—

(a) not issue directions under section 274(3) after the expiry of one month from the end of the month in which the date of compliance of the notice issued under section 274(2) falls;

(b) not make any reference to the Approving Panel under section 274(4) after the expiry of two months from the end of the month in which the final submission of the assessee in response to the notice issued under section 274(2) is received;

(c) issue directions to the Assessing Officer in Form No. 63, —

(i) in the case referred to rule 129(4)(a), within a period of one month from the end of month in which the reference is received by him; and

(ii) in the case referred to in rule 129(4)(b), within a period of two months from the end of month in which the final submission of the assessee in response to the notice issued under section 274(2) is received by him.