Amended and updated notes on section 292BB 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 Notice deemed to be valid in certain circumstances.
Chapter XXIII (Sections 281 to 298) of the Income Tax Act 1961 deals with the provisions related to Miscellaneous. Section 292BB of IT Act 1961 provides for Notice deemed to be valid in certain circumstances.
Recently, we have discussed in detail section 292B (Return of income, etc., not to be invalid on certain grounds) of IT Act 1961. Today, we learn the provisions of section 292BB of Income-tax Act 1961. The amended provision of section 292BB 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 292BB of the Income Tax Act, 1961 Bare Act read with the Income-tax Rules, 1962 as provided by Ministry of Law and Justice, Government of India.
Section-292BB: Notice deemed to be valid in certain circumstances
Where an assessee has appeared in any proceeding or co-operated in any inquiry relating to an assessment or reassessment, it shall be deemed that any notice under any provision of this Act, which is required to be served upon him, has been duly served upon him in time in accordance with the provisions of this Act and such assessee shall be precluded from taking any objection in any proceeding or inquiry under this Act that the notice was—
- (a) not served upon him; or
- (b) not served upon him in time; or
- (c) served upon him in an improper manner:
Provided that nothing contained in this section shall apply where the assessee has raised such objection before the completion of such assessment or reassessment.