Substitution of new section for section 151.
39. For section 151 of the Income-tax Act, the following section shall be substituted, namely:-
Sanction for issue of notice.
“151. 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.”.
Notes on Clauses:
Clause 39 of the Bill seeks to substitute of a new section for section 151 relating to sanction for issue of notice.
It is proposed to substitute the said section so as to provide that for the purpose of section 148, specified authority shall be
(i) Principal Commissioner of Income-tax or Principal Director of Income-tax or Commissioner of Income-tax or Director of Income-tax, if three years or less than three years have elapsed from the end of the relevant assessment year;
(ii) Principal Chief Commissioner of Income-tax or Principal Director General of Income-tax, or where there is no Principal Chief Commissioner of Income-tax or Principal Director General of Income-tax, Chief Commissioner of Income-tax or Director General of Income-tax, if more than three years have elapsed from the end of the relevant assessment year.
This amendment will take effect from 1st April, 2021.
