Amendment of section 119.
34. In section 119 of the Income-tax Act, in sub-section (2), in clause (a), after the figures and letter “234E,”, the figures and letter “234F,” shall be inserted.
Notes on Clauses:
Clause 34 seeks to amend section 119 of the Income-tax Act relating to instructions to subordinate authorities.
Clause (a) of sub-section (2) of the said section empowers the Board to issue general or special orders in respect of any class of incomes or class of cases to be followed by other income-tax authorities by way of relaxation or otherwise relating to the provisions of the sections specified therein, for the purpose of proper and efficient management of the work of assessment and collection of revenue.
It is proposed to insert the reference of section 234F relating to fee for default in furnishing return of income, to the list of sections mentioned therein in respect of which such relaxation can be granted by the Board.
This amendment will take effect from lst April, 2022.
