Amendment of section 151A
Section 45 of the Finance Act, 2021 deals with amendment of section 151A. Amendment of section 151A. 45. In section 151A of the Income-tax Act, in sub-section (1), in the opening portion, after the words and figures "issuance of notice under section ", the words, figures and letter "or conducting of enquiries or issuance of show-cause notice or passing of order under sect
Amendment of section 151A.
45. In section 151A of the Income-tax Act, in sub-section (1), in the opening portion, after the words and figures "issuance of notice under section 148", the words, figures and letter "or conducting of enquiries or issuance of show-cause notice or passing of order under section 148A" shall be inserted.
Section 45, The Finance Act, 2021.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Related judgements & precedents
These are some judgments that construed this section, and hold precedence value. They hold authority on how to read, interpret and use this section.
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Union of India vs Rajeev Bansal
Court's Decision & Legal Precedent
TOLA continues to apply to the Income Tax Act after 1 April 2021 where reassessment notice time limits fall for completion between 20 March 2020 and 31 March 2021. The extended time limit provided by TOLA (till 30 June 2021) is available to the Revenue to complete reassessment proceedings initiated under the old regime if those proceedings are deemed to be reassessment proceedings under the new regime. Reassessment notices issued under Section 148 of the new regime in pursuance of deemed notices issued between 1 April 2021 and 30 June 2021 must be issued within the surviving time limit (time remaining between the notice issuance date and 30 June 2021 after accounting for stays and exclusions). Notices issued beyond the surviving time limit are time-barred and invalid. The first proviso to Section 149 of the new regime bars reassessment for assessment years beginning on or before 1 April 2021 if the notice could not have been issued under old regime's Section 149(1)(b) time limits. The legal fiction created in Ashish Agarwal, treating old regime notices as new regime show-cause notices, operates to preserve reassessment proceedings while affording assesses the benefit of new regime's protective features and substantive limitations on reassessment.
On this section: Substituted the entire reassessment scheme effective 1 April 2021. Key changes: (a) reduced ordinary time limit from 4 years to 3 years; (b) increased threshold for extended period from Rs. 1 lakh to Rs. 50 lakhs; (c) introduced new procedure requiring prior approval at multiple stages; (d) introduced show-cause notice procedure under Section 148A with opportunity of hearing; (e) amended sanctioning authorities under Section 151. Also issued notifications extending TOLA deadlines.
The holding above is the ratio decidendi as extracted from the judgment by eCourts India, reproduced unaltered — it is a rendering of the court's reasoning, not a substitute for its words. Read the order itself before relying on it.
Questions about Section 45
What have the courts held on Section 45 of the Finance Act?
Union of India vs Rajeev Bansal (03 Oct 2024) is the leading judgment on this section among those set out below: Substituted the entire reassessment scheme effective 1 April 2021. Key changes: (a) reduced ordinary time limit from 4 years to 3 years; (b) increased threshold for extended period from Rs. 1 lakh to Rs. 50 lakhs; (c) introduced new procedure requiring prior approval at multiple stages; (d) introduced show-cause notice procedure under Section 148A with opportunity of hearing; (e) amended sanctioning authorities under Section 151. Also issued notifications extending TOLA deadlines.
How do I find court cases under Section 45 of the Finance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2021 45, section 45 Finance Act 2021, section 45 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome. 1 reported judgment on this section is set out on this page, beginning with Union of India vs Rajeev Bansal (03 Oct 2024).
What should I read with Section 45 of the Finance Act, and has it changed?
Its own text turns on section 148 (Amendment of section 2), Income-tax Act 151A (Faceless assessment of income escaping assessment), so none of them can safely be read on its own. 3 other provisions in this corpus refer back to it.
When was the Finance Act enacted?
Finance Act was enacted in 2021. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- Fourth Schedule. Fourth Schedule26628 words
- First Schedule. First Schedule9574 words
- 2. Income-tax5993 words
- 6. Amendment of section 103582 words
- 130. Substitution of new section for section 43513 words
- 131. Substitution of new section for section 52699 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument. This page is not a substitute for legal advice.