Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Act 2022 amends Section 149 of the Income-tax Act, alters assessment notice rules for tax evasion over 50 lakh.</h1> Section 149 of the Income-tax Act was amended by the Finance Act, 2022. The amendment modifies sub-section (1), allowing the issuance of notices for assessment if three to ten years have passed since the relevant assessment year, provided the Assessing Officer possesses evidence indicating tax-evading income of fifty lakh rupees or more. It also updates the language regarding the issuance of notices under sections 148, 153A, or 153C. Additionally, sub-section (1A) is introduced, permitting notices for assessment or reassessment for each relevant year if the tax-evading income spans multiple years. These changes are effective from April 1, 2021.
TaxTMI 
TaxTMI 
