Amendment of section 10.
196. In section 10 of the principal Act,––
(i) in sub-section (3), after the word “assess”, the words “or reassess” shall be inserted and shall be deemed to have been inserted with effect from the 1st day of July, 2015;
(ii) in sub-section (4), after the word “assessment”, the words “or reassessment” shall be inserted and shall be deemed to have been inserted with effect from the 1st day of July, 2015.
Notes on Clauses:
Clause 196 of the Bill seeks to amend section 10 of the said Act which, inter alia, provides for assessment or re-assessment under the said Act.
It is proposed to amend the provisions of sub-sections (3) and (4) of the said section so as to also include the terms “re-assess” and “reassessment” under the said sub-sections.
This amendment will take effect retrospectively from 1st July, 2015.
