Section 14 - Amendment of section 280E - Direct Taxes (Amendment) Act, 1964

14. Amendment of section 280E. In section 280E of the Income-tax Act, (i) in sub-clause (ii) of clause (a), after the words, brackets, letter and figure or sub-clause (b) (v) , the words, brackets, letter and figures or sub-clause (b) (vi) shall be inserted; (ii) for clause (c), the following clause shall be substituted, namely: (c) in cases where (i) the total income of the latest previous year [being a year later than the previous year referred to in clause (a)] on the basis of which tax has been paid by the depositor under section 140A, or a provisional assessment has been made under section 141, exceeds the total income referred to in clause (a), or (ii) the Income-tax Officer makes an amended order referred to in sub-section (3) of section 280F on the basis of the total income on which tax has been paid by the depositor under section 140A, or in respect of which a provisional assessment has been made under section 141, the total income referred to in clause (a) shall be substituted, (1) in a case falling under sub-clause (i), by the total income on the basis of which tax has been paid under section 140A or, as the case may be, the provisional assessment has been made under section 141, whichever relates to the latest previous year and where both relate to the same latest previous year, whichever is higher, and (2) in a case falling under sub-clause (ii)., by the total income on the basis of which the amended order under sub-section (3) of section 280F is made. .