✔️ Advance Tax on Updated Return: Amendment in Section 140(B) of the Act
✔️ Inventory Undervaluation by Nominated Cost Accountant under Section 142 of the Act
✔️ Amendments in Reassessment Provisions
• Section 148 of the Act: Issue of Notice Where Income Has Escaped Assessment
• Section 149 of the Act: Time Limit for Notice
• Section 151 of the Act: Sanction for Issue of Notice
✔️ Alignment of Timeline Provisions: Section 153 of the Act
✔️ Capacity Building: First Appellate Authority
• Designation of Joint Commissioner (Appeals)