Substitution of new section for section 149.

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..... r section 148 shall be issued for the relevant assessment year, (a) if three years and three months have elapsed from the end of the relevant assessment year, unless the case falls under clause (b); (b) if three years and three months, but not more than five years and three months, have elapsed from the end of the relevant assessment year unless the Assessing Officer has in his possession books of .....

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..... 49 of the Income-tax Act relating to time limit for notice. The existing provisions of the said section, inter alia, provides the time limit for the issuance of notice under section 148. It is proposed to substitute the said section to provide the time line beyond which notice under section 148 and notice to show cause under section 148A shall not be issued by the Assessing Officer in respect of i .....

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