Section 51 - Amendment of Act 29 of 1957 - Finance Act, 1964

51. Amendment of Act 29 of 1957 In the Expenditure-tax Act, 1957,- (i) in section 3, in sub-section (1), the proviso and the Explanation shall be omitted; (ii) in section 5,- (1) for clause (g), the following clause shall be substituted, namely:- (g) any expenditure incurred by the assessee in the purchase of books; ; (2) to clause (j), the following proviso shall be added, namely:- Provided that the assessee is either chargeable to gift-tax under the Gift-tax Act, 1958 (18 of 1958) in respect of such gift, donation or settlement, as the case may be, or has deposited to the credit of the Central Government before the completion of his assessment for the relevant assessment year under this Act, a sum of four per cent. of the moneys or the value of the property comprised in such gift or donation or settlement, as the case may be, by way of payment of expenditure-tax for the relevant assessment year, such payment being in addition to the amount of expenditure-tax with which he is otherwise chargeable under the provisions of this Act; ; (3) clauses (l) and (n) shall be omitted; (iii) in section 6- (a) in sub-section (1)- (1) clause (c) shall be omitted; (2) for clause (d), the following clause shall be substituted, namely:- (d) four-fifths of any expenditure incurred by way of capital expenditure on the purchase of bullion, precious stones, jewellery, motor-cars and other conveyances for the personal use of the assessee or any of his dependants: Provided that where a deduction as aforesaid is made, one-fifth of the said capital expenditure shall be deemed to be incurred by the assessee in each of the four years succeeding the previous year in which the expenditure was incurred and no deduction shall be made under this clause in the assessment for any succeeding year in respect of expenditure so deemed to have been incurred in any earlier year; ; (3) clauses (e), (f), (g) and (h) shall be omitted; (4) in clause (i), the words, brackets and letters to the extent to which such expenditure is not admissible under clause (c) or clause (e) or clause (f) or clause (g), shall be omitted; (5) clause (j) shall be omitted; (b) sub-section (2) and sub-section (3) shall be omitted; (iv) section 38 shall be omitted; (v) for sections 38A and 38B, the following sections shall be substituted, namely:- 38A. Publication of information respecting assessees. (1) If the Central Government is of opinion that it is necessary or expedient in the public interest to publish the names of any assessees and any other particulars relating to any proceedings under this Act in respect of such assessees, it may cause to be published such names and particulars in such manner as it thinks fit. (2) No publication under this section shall be made is relation to any penalty imposed, or any conviction for any offence connected with any proceedings, under this Act until the time for presenting an appeal to the Appellate Assistant Commissioner or to the first Appellate Court, as the ease may be, has expired without an appeal having been presented or the appeal, if presented, has been disposed of. 38B. Disclosure of information respecting assessees. Where a person makes an application to the Commissioner in the prescribed form for any information relating to any assessee in respect of any assessment made under this Act, the Commissioner may, if he is satisfied that it is in the public interest so to do, furnish or cause to be furnished the information asked for in respect of that assessment only and his decision in this behalf shall be final and shall not be called in question in any court of law. ; (vi) in section 39, after the words lie against , the words the Government or shall be inserted; (vii) for the Schedule, the following Schedule shall be substituted, namely:- THE SCHEDULE (See section 3) Rates of Expenditure-tax In the case of every individual and Hindu undivided family, on that portion of the taxable expenditure- (i) which does not exceed Rs. 36,000 Nil (ii) which exceeds Rs. 36,000 but does not exceed Rs. 48,000 5% (iii) which exceeds Rs. 48,000 but does not exceed Rs. 60,000 7.5% (iv) which exceeds Rs. 60,000 but does not exceed Rs. 72,000 10% (v) which exceeds Rs. 72,000 but does not exceed Rs. 84,000 15% (vi) which exceeds Rs. 84,000 20%: Provided that in respect of any assessment for the financial year commencing on the 1st day of April, 1964 or 1965, this Schedule shall have effect as if for items (v) and (vi), the following item had been substituted, namely:- (v) which exceeds Rs. 72,000 15% .