CBDT prescribes Income Tax Authority other than Assessing Officer who can also issue notice u/s 142(1)
CBDT has notified the Income-tax (29th Amendment) Rules, 2021. They shall come into force from the date of its publication in the Official Gazette.
The amendment has inserted Rule 12F in the Income-tax Rules, 1962 to prescribe income-tax authority under second proviso to clause (i) of sub-section (1) of section 142.
Section 142 enables the Assessing Officer to issue notice for conducting an inquiry before the assessment. However, the Finance Act 2021 inserted the above said second proviso w.e.f. 1-4-2021 to provide that notice under sub section (1) of Section 142 may also be served by the prescribed income-tax authority.
The Rule 12F has prescribed that income-tax authority under second proviso to clause (i) of sub-section (1) of section 142 shall be an income-tax authority not below the rank of Income-tax Officer who has been authorised by the Central Board of Direct Taxes to act as such.
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