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of <h1>Clause 242 Redefines Tax Officer Jurisdiction, Clarifies Assessment Powers and Dispute Resolution Mechanisms</h1> Clause 242 of the Income Tax Bill, 2025 establishes a comprehensive framework for determining the jurisdiction of Assessing Officers. The provision clarifies jurisdiction based on business location or residence, provides mechanisms for resolving jurisdictional disputes, and sets strict time limits for challenging an officer's authority. It modernizes the existing framework from Section 124 of the 1961 Act, streamlining administrative processes while preserving core principles of tax assessment and ensuring efficient tax administration.
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