Title : Amendment of Section 142
State : Central
Year : 2007
In section 142 of the Income-tax Act,- (a) in sub-section (2A), the following proviso shall be inserted with effect from the 1st day of June, 2007, namely:-- "Provided that the Assessing Officer shall not direct the assessee to get the accounts so audited unless the assessee has been given a reasonable opportunity of being heard."; (b) in sub-section (2D), the following proviso shall be inserted with effect from the 1st day of June, 2007, namely:-- "Provided that where any direction for audit under sub-section (2A) is issued by the Assessing Officer on or after the 1st day of June, 2007, the expenses of, and incidental to, such audit (including the remuneration of the Accountant) shall be determined by the Chief Commissioner or Commissioner in accordance with such guidelines as..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 153
State : Central
Year : 2007
In section 15 3 of the Income-tax Act, with effect from the 1st day of June, 2007,-- (a) in sub-section (1), after the proviso, the following proviso shall be inserted, namely:-- 'Provided further that in case the assessment year in which the income was first assessable is the assessment year commencing on the 1st day of April, 2005 or any subsequent assessment year and during the course of the proceeding for the assessment of total income, a reference under sub-section (1) of section 92CA-- (i) was made before the 1st day of June, 2007 but an order under sub-section (3) of that section has not been made before such date; or (ii) is made on or after the 1st day of June, 2007, the provisions of clause (a) shall, notwithstanding anything contained in the first proviso, have..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 193
State : Central
Year : 2007
In section 193 of the Income-tax Act, in the proviso, in clause (iv), the following proviso shall be inserted with effect from the 1st day of June, 2007, namely:-- "Provided that nothing contained in this clause shall apply to the interest exceeding rupees ten thousand payable on 8% Savings (Taxable) Bonds, 2003 during the financial year;". View Complete Act List Judgments citing this sectionTitle : Amendment of Section 194-i
State : Central
Year : 2007
In section 194-I of the Income-tax Act, for clauses (a) and (b), the following clauses shall be substituted with effect from the 1st day of June, 2007, namely:-- "(a) ten per cent. for the use of any machinery or plant or equipment; (b) fifteen per cent. for the use of any land or building (including factory building) or land appurtenant to a building (including factory building) or furniture or fittings where the payee is an individual or a Hindu undivided family; and (c) twenty percent. for the use of any land or building (including factory building) or land appurtenant to a building (including factory building) or furniture or fittings where the payee is a person other than an individual or a Hindu undivided family:". View Complete Act List Judgments citing this sectionTitle : Amendment of Section 245e
State : Central
Year : 2007
In section 245E of the Income-tax Act, after the proviso, the following proviso shall be inserted with effect from the 1st day of June, 2007, namely: - "Provided further that no proceeding shall be reopened by the Settlement Commission under this section in a case where an application under section 245C is made on or after the 1st day of June, 2007.". View Complete Act List Judgments citing this sectionTitle : Amendment of Section 271
State : Central
Year : 2007
In section 271 of the Income-tax Act, in sub-section (1),-- (i) in Explanation 4, in clause (b), for the words "means the tax on the total income assessed;", the words and figures "means the tax on the total income assessed as reduced by the amount of advance tax, tax deducted at source, tax collected at source and self assessment tax paid before the issue of notice under section 148;" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 2003; (ii) in Explanation 5, in the opening portion, for the words and figures "search under section 132", the words, figures and letters "search initiated under section 132 before the 1st day of June, 2007" shall be substituted with effect from the 1st day of June, 2007; (iii) after Explanation..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 296
State : Central
Year : 2007
In section 296 of the Income-tax Act, with effect from the 1st day of June, 2007, for the words, brackets, figures and letter "every notification issued under sub-clause (iv) of clause (23C) of section 10", the words, figures, letters and brackets "every notification issued before the 1st day of June, 2007 under sub-clause (iv) of clause (23C) of section 10" shall be substituted. View Complete Act List Judgments citing this sectionTitle : Amendment of Section 22e
State : Central
Year : 2007
In section 22E of the Wealth-tax Act, after the proviso, the following proviso shall be inserted with effect from the 1st day of June, 2007, namely:-- "Provided further that no proceeding shall be reopened by the Settlement Commission under this section in a case where an application under section 22C is made on or after the 1st day of June, 2007.". View Complete Act List Judgments citing this sectionTitle : Amendment of Section 127e
State : Central
Year : 2007
In section 127E of the Customs Act, after the proviso, the following proviso shall be inserted with effect from the 1st day of June, 2007, namely:-- "Provided further that no proceeding shall be reopened by the Settlement Commission under this section in a case where an application under section 127B is made on or after the 1st day of June, 2007.". View Complete Act List Judgments citing this sectionTitle : Amendment of Section 127j
State : Central
Year : 2007
In section 127J of the Customs Act, for the brackets and figure "(7)", the brackets and figure "(5)" shall be substituted with effect from the 1st day of June, 2007. View Complete Act List Judgments citing this section