Section 39 - Amendment of section 234B - Direct Tax Laws (Amendment) Act, 1989

39. Amendment of section 234B. In section 234B of the Income-tax Act [as inserted by section 94 of the Direct Tax Laws (Amendment) Act, 1987 (4 of 1988)],- (a) in sub-section (1),- (i) for the words to the date of the regular assessment , the words, brackets and figures to the date of determination of total income under sub-section (1) of section 143 or regular assessment shall be substituted; (ii) for Explanation 1, the following Explanation shall be substituted, namely :- Explanation 1 .- In this section, assessed tax means,- (a) for the purposes of computing the interest payable under section 140A, the tax on the total income as declared in the return referred to in that section; (b) in any other case, the tax on the total income determined under sub-section (1) of section 143 or on regular assessment, as reduced by the amount of tax deducted or collected at source in accordance with the provisions of Chapter XVII on any income which is subject to such deduction or collection and which is taken into account in computing such total income. ; (iii) for Explanation 3, the following Explanation shall be substituted, namely :- Explanation 3 .- In Explanation 1 and in sub-section (3), tax on the total income determined under sub-section (1) of section 143 shall not include the additional income- tax, if any, payable under section 143. ; (b) in sub-section (2), in the opening portion, after the words date of , the words, brackets and figures determination of total income under sub-section (1) of section 143 or shall be inserted; (c) in sub-section (3),- (i) for the words the date of the regular assessment , the words, brackets and figures the date of determination of total income under sub-section (1) of section 143 or regular assessment shall be substituted; (ii) for the words income determined on the basis of the regular assessment aforesaid , the words, brackets and figures income determined under sub-section (1) of section 143 or on the basis of the regular assessment aforesaid shall be substituted; (iii) the Explanation shall be omitted.