Background:
Earlier, the CBDT vide Notification No.93/2020-Income-tax dated December 31, 2020, Notification No. 10/2021 dated February 27, 2021 and Notification No. 20/2021-Income-tax dated March 31, 2021 (“said Notifications”), prescribed the time limit and relaxation of certain provisions of Specified Acts as defined under Section 2(1)(b) of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (“TOL Act”).
Notification:
The CBDT vide Notification No. 38/2021-Income-tax dated April 27, 2021 issued modification in the said Notifications, to further extend of time limit for compliance or completion of certain actions under Income-tax Act, 1961 (“IT Act”) and Finance Act, 2016 (“Finance Act”), in a following manner:
- Where the Specified Act is the IT Act, and the completion of any action referred to in Section 3(1)(a) of the TOL Act, relates to passing of an order under Section 144C(13) or issuance of notice where income has escaped assessment under Section 148 as per time-limit specified in Section 149 or sanction for issue of notice under Section 151 of the IT Act or relates to passing of any order for assessment or reassessment as per the time limit specified in Section 153 or Section 153B of the IT Act-
- The time limit for completion of such action expiring on April 30, 2021 due to its extension by said Notifications, shall be further extended to June 30, 2021.
- Further it has been clarified that for the purposes of issuance of notice under Section 148 as per time-limit specified in Section 149 or sanction under Section 151 of the IT Act, the provisions of Section 148, Section 149 and Section 151 of the IT Act, shall apply as they stood as on the March 31, 2021, before the commencement of the Finance Act, 2021.
- Where the Specified Act is Chapter VIII of the Finance Act, and the completion of any action referred to in Section 3(1)(a) of the TOL Act, relates to sending an intimation under Section 168(1) the Finance Act-
- The time limit for completion of such action expiring on April 30, 2021 due to its extension by said Notifications, shall be further extended to June 30, 2021.
Effect:
The completion of any proceeding w.r.t passing of an order or issuance of any notice, intimation, sanction or such other action, under the abovementioned provisions of the IT Act and Finance Act respectively, which was extended by the said Notifications upto April 30, 2021, have been further extended upto June 30, 2021.
The Notification can be accessed at: http://egazette.nic.in/WriteReadData/2021/226777.pdf