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Date: 01-Mar-2023 Category: Extra Ordinary State: Union Government Country: India

Notification under sub sections (1), (2) and (5) of section 120 of the Income tax Act, 1961 (43 of 1961).

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

What it means

  • The notification issued by the Central Board of Direct Taxes (CBDT) amends Notification No. 61/2022, dated June 10, 2022, which was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii).

Key Changes

  • The notification omits Sl. No. 3298 and its related entries from the SCHEDULE of the original notification (No. 61/2022).
  • This notification is effective from the date of its publication in the Official Gazette (March 1, 2023).

Impact Analysis

Tax Administration

  • Review and update internal guidelines and manuals to reflect the changes brought about by this notification.

Tax Payers

  • The specific impact on taxpayers will depend on the details of the omitted entry, which is not provided in this notification. Further investigation of the original notification and related circulars may be required to fully understand the impact.

Legal and Compliance

  • Assess the impact of the omission on pending cases or assessments related to the omitted entry.

Key Entities Referenced

Central Board of Direct Taxes (CBDT): The issuer of the notification and the authority responsible for administering income tax laws in India. Income-tax Act, 1961: The primary legislation governing income tax in India. Section 120 provides the CBDT with the power to issue orders regarding the jurisdiction of income tax authorities. Notification No. 61/2022: The original notification dated June 10, 2022, which is being amended by this notification. It was published in the Gazette of India vide S.O. 2693(E). Notification No. 121/2022: The last amendment to the Principal Notification No. 61/2022, published in the Gazette of India vide S.O. 5255(E) dated November 14, 2022.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 xxxGIDHxxx सी.जी.-डी.एलxx.x-GअID.-E0x1x0x 32023-244005 CG-DL-E-01032023-244005 असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 914] नई ददल्ली, बुधिार, मार् ड1, 2023/फाल्ग नु 10, 1944 No. 914] NEW DELHI, WEDNESDAY, MARCH 1, 2023/PHALGUNA 10, 1944 जित्त मत्ालं य (रािस्ट्ि जिभाग) (केन्द्रीय प्रत्यक्ष कर बोडड) (आयकर) नई ददल्ली,1 मार्ड, 2023 का.आ. 951(अ).—आयकर अजधजनयम, 1961 (1961 का 43) की धारा 120 की उप-धारा (1), (2) तथा (5) द्वारा प्रदत्त िजियों का प्रयोग करत े हुए, केंरीय प्रत्यक्ष कर बोडड एतद्द्वारा का. आ. संख्या 2693 (अ) ददनांक 10 िनू , 2022 के तहत, भारत के रािपत्, असाधारण, भाग II, खंड 3, उप-खंड (ii) में प्रकाजित केंरीय प्रत्यक्ष कर बोडड रािस्ट्ि जिभाग, जित्त मंत्ालय, भारत सरकार, की अजधसूर्ना संख्या 61/2022 ददनांक 10 िनू , 2022, में जनम्न संिोधन करता ह,ै नामत: :- उि अजधसूर्ना में,अनुसूर्ी म,ेंक्रमांक 3298 और उससे संबंजधत प्रजिजियों को क्रमि: हटा ददया िाएगा। 2. यह अजधसूर्ना सरकारी रािपत् में इसके प्रकािन की जतजथ स ेप्रभािी होगी। [अजधसूर्ना स.ं 10/2023/फा. सं.187/3/2020-आईटीए-I] सौरभ िैन, अिर सजर्ि टटप्पण : मूल अजधसूर्ना संख्या 61/2022 भारत के रािपत्, असाधारण, भाग- II, खंड 3, उप-खंड (ii) में का.आ. 2693(अ) ददनांक 10 िून, 2022 के तहत प्रकाजित की गई थी तथा जिसमें अंजतम संिोधन अजधसूर्ना संख्या 121/2022 भारत के रािपत्, असाधारण, भाग-II, खंड 3, उप-खंड (ii) में का.आ. 5255(अ) ददनांक 14 निम्बर, 2022 के तहत प्रकाजित दकया गया था। 1360 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF FINANCE (Department Of Revenue) (CENTRAL BOARD OF DIRECT TAXES) (INCOME TAX) New Delhi, the 1st March, 2023 S.O. 951(E).—In exercise of the powers conferred by sub-sections (1), (2) and (5) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of the Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes No.61/2022 dated the 10th June, 2022, published in Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) vide number S.O. 2693(E) dated the 10th June, 2022, namely:- In the said notification, in the SCHEDULE, Sl. No.3298 and the entries relating thereto shall respectively be omitted. 2. This notification shall come into force from the date of publication in the Official Gazette. [Notification No. 10/2023/F.No. 187/3/2020-ITA-I] SOURABH JAIN, Under Secy. Note : The Principal Notification No.61/2022 was published in the Gazette of India, Extraordinary, Part – II, Section 3, Sub-section (ii) vide S.O. 2693(E) dated the 10th June, 2022 and last amended by Notification No.121/2022 published in the Gazette of India, Extraordinary, Part – II, Section 3, Sub-section (ii) vide S.O. 5255(E) dated the 14th November, 2022. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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