Amendment of section 124.
63. In section 124 of the Income-tax Act, in sub-section (3), after clause (b), the following clause shall be inserted with effect from the 1st day of June, 2016, namely:-
“(c) where an action has been taken under section 132 or section 132A, after the expiry of one month from the date on which he was served with a notice under sub-section (1) of section 153A or sub-section (2) of section 153C or after the completion of the assessment, whichever is earlier.”.
Notes on Clauses:
Clause 63 of the Bill seeks to amend section 124 of the Income tax Act relating to jurisdiction of Assessing Officers.
Sub-section (3) of the aforesaid section, inter alia, provides that no person shall be entitled to call in question the jurisdiction of an Assessing Officer in a case where return is filed under section 139, after the expiry of one month from the date on which he was served with a notice under sub-section (1) of section 142 or subsection (2) of section 143 or after the completion of the assessment, whichever is earlier.
It is proposed to amend the said sub-section (3) so as to provide that in a case where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A, no person shall be entitled to call in question the jurisdiction of an Assessing Officer after the expiry of one month from the date on which he was served with a notice under subsection (1) of section 153A or sub-section (2) of section 153C or after the completion of the assessment, whichever is earlier.
This amendment will take effect from 1st June, 2016.
