The CBDT vide Notification No. 10/2021 dated February 27, 2021 partially modified Notification No. 93/2020 dated December 31, 2020 (“NN. 93/2020”) for extension of following dates under Section 3(1)(a) of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020:
A. For Income Tax Act, 1961 (“IT Act”)
a. For imposition of penalty under Chapter XXI (i.e., penalties imposable) of the IT Act, —
i. the June 29, 2021 shall be the end date of the period during which the time limit specified in or prescribed or notified under the IT Act falls, for the completion of such action; and
ii. the June 30, 2021 shall be the end date to which the time limit for completion of such action shall stand extended.
b. For assessment or reassessment under the IT Act, and the time limit for completion of such action under Section 153 (i.e., time limit for completion of assessment, reassessment and recomputation) or Section 153B of the IT Act (i.e., time limit for completion of assessment under Section 153A) thereof, —
i. expires on the March 31, 2021, due to its extension by the NN 93/2020, such time limit shall stand extended to the April 30, 2021;
ii. is not covered under (i) and expires on March 31, 2021, such time limit shall stand extended to the September 30, 2021.
B. For Prohibition of Benami Property Transaction Act, 1988 (“Benami Act”) wherein the issue relates to issuance of notice under 26(1) or passing of any order under Section 26(3) of the Benami Act:
a. the June 30, 2021 shall be the end date of the period during which the time limit specified in or prescribed or notified under the Benami Act falls, for the completion of such action; and
b. the September 30, 2021 shall be the end date to which the time limit for completion of such action shall stand extended.
Section 3(1)(a) of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 reads as under:
“3. Relaxation of certain provisions of specified Act
(1) Where, any time-limit has been specified in, or prescribed or notified under, the specified Act which falls during the period from the 20th day of March, 2020 to the 31st day of December, 2020, or such other date after the 31st day of December, 2020, as the Central Government may, by notification, specify in this behalf, for the completion or compliance of such action as-
(a) completion of any proceeding or passing of any order or issuance of any notice, intimation, notification, sanction or approval, or such other action, by whatever name called, by any authority, commission or tribunal, by whatever name called, under the provisions of the specified Act;”
The Notification can be accessed at: http://egazette.nic.in/WriteReadData/2021/225559.pdf