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of <h1>Finance Act 2021 updates Section 151: New authorities for issuing tax notices based on assessment year elapsed time.</h1> Section 151 of the Income-tax Act has been replaced by a new provision under the Finance Act, 2021, concerning the sanction for issuing notices. The specified authority for issuing notices under sections 148 and 148A is defined based on the time elapsed since the end of the relevant assessment year. If three years or less have passed, the authority is the Principal Commissioner, Principal Director, Commissioner, or Director. If more than three years have passed, the authority is the Principal Chief Commissioner, Principal Director General, or, if unavailable, the Chief Commissioner or Director General.
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