Amendment of section 151.
71. In section 151 of the Income-tax Act,––
(a) in clause (ii), the words “where there is no Principal Chief Commissioner or Principal Director General,” shall be omitted;
(b) after clause (ii), the following proviso shall be inserted, namely:––
“Provided that the period of three years for the purposes of clause (i) shall be computed after taking into account the period of limitation as excluded by the third or fourth or fifth provisos or extended by the sixth proviso to sub-section (1) of section 149.”.
Notes on Clauses:
Clause 71 of the Bill seeks to amend the section 151 of the Income-tax Act relating to sanction for issue of notice.
It is proposed to amend clause (ii) of the said section to provide that the specified authority for the purposes of section 148 and section 148A shall be the Principal Chief Commissioner or Principal Director General or Chief Commissioner or Director General, if more than three years have elapsed from the end of the relevant assessment year.
It is further proposed to insert a proviso in the said section so as to provide that the period of three years for the purposes of clause (i) shall be computed after taking into account the period of limitation as excluded by the third or fourth or fifth provisos or extended by the sixth proviso to sub-section (1) of section 149.
These amendments will take effect from 1st April, 2023.
