Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020

Section - 4 - Insertion of new section "157A"

Insertion of new section "157A".

4. (XXVII) after section 157, the following section shall be inserted with effect from the 1st day of November, 2020, namely:-

''157A.Faceless rectification, amendments and issuance of notice or intimation - (1) The Central Government may make a scheme, by notification in the Official Gazette, for the purposes of rectification of any mistake apparent from record under section 154 or other amendments under section 155 or issue of notice of demand under section 156, or intimation of loss under section 157, so as to impart greater efficiency, transparency and accountability by-

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(a)	-	eliminating the interface between the income-tax authority and the assessee or any other person to the extent technologically feasible;
(b)	-	optimising utilisation of the resources through economies of scale and functional specialisation;