Sanctions for issue of notice u/s 148 &148A - Section 151 - Income Tax - Ready Reckoner - Income Tax

Sanctions for issue of notice u/s 148 148A - Section 151 From 01.09.2024 - Specified authority for the purposes of sections 148 and 148A shall be the Additional Commissioner or the Additional Director or the Joint Commissioner or the Joint Director, as the case may be. [ Substituted vide Finance (No. 2) Act, 2024 ] Upto 31.08.2024 Notice can be issued up to 3 years from the end of the relevant Assessment Year Notice can be issued beyond 3 years Specified authority for the purposes of section 148 and section 148A shall be,- For an assessment u/s 143(3) or u/s 147 As per Clasue (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; [CIT/PCIT/DIT/PDIT] Proviso of section 151 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 section 149(1). As per Clause (ii) Principal Chief Commissioner or Principal Director General or where there is no Principal Chief Commissioner or Principal Director General [ Omitted by FA, 2023 ] Chief Commissioner or Director General, if more than three years have elapsed from the end of the relevant assessment year. [PCCIT/PDGIT] Where there is no PCCIT/PDGIT then CCIT/DGIT. It may be noted that Finance Act 2021 has amended/ substituted/ inserted Sections 147 , 148 , 148A , 149 and 151 of the Income Tax Act 1961 with regard to reduction of Time Limit for re-opening of income tax proceedings, applicable with effect from 01/04/2021 (AY 2021-22) .