What is the time limit for filing of Updated Return u/s 139(8A) of the Income Tax Act, 1961 ? Also explain the situations where Updated Return u/s 139(8A) cannot be filed.

An updated return can be filed at any time within 24 months from the end of the relevant assessment year. However, an updated return cannot be filed in the following situations: (i) is a loss return; or (ii) has the effect of decreasing the total tax liability (iii) results in refund or increases the refund due (iv) A search has been initiated under section 132 or books of account or other documents or any assets are requisitioned under section 132A in the case of such person; or (v) A survey has been conducted under section 133A, other than section 133A(2A), in the case such person; or (vi) A notice has been issued to the effect that any money, bullion, jewellery or valuable article or thing, seized or requisitioned under section 132 or section 132A in the case of any other person belongs to such person; or (vii) A notice has been issued to the effect that any books of account or documents, seized or requisitioned under section 132 or section 132A in the case of any other person, pertain or pertains to, or any other information contained therein, relate to, such person. (viii) An updated return has already been furnished by assessee for the same assessment year. (ix) Any proceeding for assessment or reassessment or re computation or revision of income is pending or has been completed; (x) the Assessing Officer has information in respect of such person for the relevant assessment year in his possession under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 or the Prohibition of Benami Property Transactions Act, 1988 or the Prevention of Money-laundering Act, 2002 or the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 and the same has been communicated to him, prior to the date of furnishing of return under this sub-section; or (xi) information for the relevant assessment year has been received under an agreement referred to in section 90 or section 90A in respect of such person and the same has been communicated to him, prior to the date of furnishing of return under this sub-section; or (xii) any prosecution proceedings under the Chapter XXII have been initiated for the relevant assessment year in respect of such person, prior to the date of furnishing of return under this sub-section; or (xiii) he is such person or belongs to such class of persons, as may be notified by the Board in this regard: (xiv) where any notice to show-cause under section 148A has been issued in his case after thirty-six months from the end of the relevant assessment year.