As per Clause 39 of the Finance Bill 2021, Section 151 of the Income Tax relating to Sanction for issue of notice, is to be substituted, in view of proposed reduction in time limit for re-opening of assessment proceedings.
Proposed/ Revised IT Section 151: Sanction for issue of notice
Specified authority for the purposes of section 148 and section 148A shall be,-
(i) Principal Commissioner or Principal Director or Commissioner or Director, if three years or less than three years have elapsed from the end of the relevant assessment year;
(ii) Principal Chief Commissioner or Principal Director General or where there is no Principal Chief Commissioner or Principal Director General, Chief Commissioner or Director General, if more than three
years have elapsed from the end of the relevant assessment year.
|CBDT Updates (Income Tax)|
|Income Tax Circulars, Instructions, Notifications, Orders, Press Releases, etc. issued by the Central Board of Direct Taxes (CBDT) in different years:|
|CBDT Circulars: 2021, 2020, 2019, 2018, 2017|
|CBDT Instructions: 2020, 2019, 2018, 2017, 2016, 2015|
|CBDT Notifications: 2021, 2020, 2019, 2018, 2017|
|CBDT Orders: 2021, 2020, 2019, 2018, 2017|
|CBDT Press Releases: 2021, 2020, 2019, 2018, 2017, 2016, 2015|
|Note: For Official/ updated copy, please visit the Income Tax Deptt. website.|