Amendment of section 264.
103. In section 264 of the Income-tax Act, in sub-section (4), for the words and brackets “the Commissioner (Appeals)” wherever they occur, the words and brackets “the Joint Commissioner (Appeals) or the Commissioner (Appeals)” shall be substituted.
Notes on Clauses:
Clause 103 of the Bill seeks to amend section 264 of the Income-tax Act relating to revision of other orders.
It is proposed to consequentially amend sub-section (4) of 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.