Substitution of new section for section 151- Sanction for issue of notice.

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..... ue of notice. "151. (1) No notice shall be issued under section 148 (Sanction for issue of notice.) by an Assessing Officer, after the expiry of a period of four years from the end of the relevant assessment year, unless the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner is satisfied, on the reasons recorded by the Assessing Officer, that it is a fit .....

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..... e Income tax Act relating to sanction for issue of notice. The existing provisions contained in section 151 of the Act provides for sanction from certain authorities before issue of notice under section 148. The section specifies different sanctioning authorities for the cases where earlier assessment has been made under sub-section (3) of section 143 or section 147 and other cases (where no asse .....

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..... shall be issued under section 148 by an Assessing Officer, who is below the rank of Joint Commissioner, unless the Joint Commissioner is satisfied on the reasons recorded by such Assessing Officer that it is a fit case for the issue of such notice. This amendment will take effect from 1st day of June, 2015.
Statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Ta .....

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