Amended and updated notes on section 129 of Income Tax Act 1961 as amended by the Finance Act 2022 and Income-tax Rules, 1962. Detail discussion on provisions and rules related to Change of incumbent of an office.
Chapter XIII (Sections 116 to 138) of the Income Tax Act 1961 deals with the provisions related to Income-tax Authorities. Section 129 of IT Act 1961-2020 provides for Change of incumbent of an office.
Recently, we have discussed in detail section 127 (Power to transfer cases) of IT Act 1961. Today, we learn the provisions of section 129 of Income-tax Act 1961. The amended provision of section 129 is effective for financial year 2022-23 relevant to the assessment year 2023-24.
In this article, you will learn detail of the provisions of section 129 of the Income Tax Act, 1961 Bare Act read with the Income-tax Rules, 1962, regulations, notifications, circulars, orders and Press Release by CBDT, Income Tax Department and the Ministry of Law and Justice, Government of India.
Section-129: Change of incumbent of an office
Whenever in respect of any proceeding under this Act an income-tax authority ceases to exercise jurisdiction and is succeeded by another who has and exercises jurisdiction, the income-tax authority so succeeding may continue the proceeding from the stage at which the proceeding was left by his predecessor :
Provided that the assessee concerned may demand that before the proceeding is so continued the previous proceeding or any part thereof be reopened or that before any order of assessment is passed against him, he be reheard.