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of <h1>Finance Bill 2016 amends Income-tax Act, Section 124: Limits challenges to Assessing Officer's jurisdiction post-notice or assessment.</h1> Clause 63 of the Finance Bill, 2016, amends section 124 of the Income-tax Act regarding the jurisdiction of Assessing Officers. It introduces a new provision in sub-section (3), effective from June 1, 2016, stating that in cases where actions are taken under sections 132 or 132A, individuals cannot challenge the jurisdiction of an Assessing Officer after one month from receiving a notice under section 153A(1) or 153C(2), or after the assessment is completed, whichever occurs first. This amendment aligns with existing provisions for returns filed under section 139.
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