The time limit of 8 years in sub section (1 ) in respect of cases failing within clause (a) was removed and the following provisos were substituted for the existing proviso in sub section (1 ) : "Provided that the Income Tax Officer shall not issue a notice under clause (a) of sub section (1) (i) for any year prior to the year ending on the 31st day of March, 1941: (ii) for any year, if eight years have elapsed after the expiry of that year, unless the income, profits or gains chargeable to income tax which have escaped assessment or have been underassessed or assessed at too low a rate or have been made the subject of excessive relief under this Act, or the loss or depreciation allowance which has been computed in excess, amount to, or are likely to amount to, one lakh of rupees, or more in the aggregate, either for that year, or for that year and any other year or years after which or after each of which eight years have elapsed, not being a year or years ending before the 31st day of March, 1941; (iii) for any year, unless he has recorded his reasons for doing so, and, in any case falling under clause (ii), unless the Central Board of Revenue, and, in any other case, the Commissioner is satisfied on such reasons recorded that it is a fit case for the issue of such notice; The Income Tax Act, 1961 (No. 43 of 1961) came into force from 1st April, 1962.