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of <h1>Section 148A Introduced: Inquiry and Show-Cause Notice Required Before Issuing Tax Notice Under Section 148</h1> Clause 37 of the Finance Bill, 2021, introduces section 148A to the Income-tax Act, mandating that before issuing a notice under section 148, the Assessing Officer must conduct an inquiry, if necessary, with prior approval from a specified authority. The officer must also provide the assessee an opportunity to be heard, issuing a show-cause notice with a response time of 7 to 30 days. The officer will then decide, based on available materials and the assessee's response, whether to issue a notice under section 148. Exceptions apply to cases involving searches or requisitions initiated after April 1, 2021. This amendment is effective from April 1, 2021.
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