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of <h1>Section 144B: Inspecting Assistant Commissioner Can Direct Income-tax Officer; Taxpayer Objections Reviewed; Binding Directions Issued.</h1> Section 144B of the Income-tax Act, 1961, introduced by the Taxation Laws (Amendment) Act, 1975, effective January 1, 1976, allows the Inspecting Assistant Commissioner to issue pre-assessment directions to the Income-tax Officer. The Income-tax Officer must send a draft assessment order to the taxpayer if proposing an addition or disallowance exceeding a Board-fixed amount. Taxpayers have seven days to object, extendable by up to 15 days. If objections are raised, the Inspecting Assistant Commissioner reviews them and issues binding directions. The Board sets the minimum amount for proposed changes, initially fixed at Rs. 1 lakh from January 1, 1976.
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