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of <h1>Finance Bill 2021 amends section 151 of Income-tax Act, redefining sanctioning authority for notices under sections 148, 148A.</h1> Clause 39 of the Finance Bill, 2021 proposes the substitution of section 151 of the Income-tax Act, detailing the sanctioning authority for issuing notices under sections 148 and 148A. The specified authorities are categorized based on the time elapsed since the end of the relevant assessment year. If three years or less have elapsed, the authority includes the Principal Commissioner, Principal Director, Commissioner, or Director. If more than three years have elapsed, the authority is the Principal Chief Commissioner, Principal Director General, or, in their absence, the Chief Commissioner or Director General. This amendment is effective from April 1, 2021.
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