Amendment of section 177.
78. In section 177 of the Income-tax Act, in sub-section (2), for the words and brackets “the Commissioner (Appeals)”, the words and brackets “the Joint Commissioner (Appeals) or the Commissioner (Appeals)” shall be substituted.
Notes on Clauses:
Clause 78 of the Bill seeks to amend section 177 of the Income-tax Act relating to association dissolved or business discontinued.
It is proposed to consequentially amend the said section to substitute the expression “the Commissioner (Appeals)” with “the Joint Commissioner (Appeals) or the Commissioner (Appeals)”.
This amendment will take effect from 1st April, 2023.