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of <h1>Finance Bill 2022 Amends Section 144B for Faceless Tax Assessments, Enhancing Efficiency and Transparency via Digital Means</h1> Clause 42 of the Finance Bill, 2022 amends section 144B of the Income-tax Act, introducing a faceless assessment procedure. This amendment replaces subsections (1) to (8) with new provisions to streamline faceless assessments, reassessments, or recomputations under sections 143, 144, or 147. The National Faceless Assessment Centre (NaFAC) is central to this process, assigning cases to assessment units (AU), and facilitating communication through electronic means. The amendment outlines the roles of various units, including verification, technical, and review units, and specifies the use of digital communication and video conferencing for hearings. It also addresses procedural aspects like electronic record authentication and the transfer of cases to jurisdictional officers when necessary. These changes aim to improve efficiency and transparency in tax assessments, effective from April 1, 2022, with some provisions retrospectively effective from April 1, 2021.
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