Section 13 - Amendment of section 22 - Taxation Laws (Amendment & Miscellaneous Provisions) Act, 1986

13. Amendment of section 22. In section 220 of the Income-tax Act, in sub-section (2A),- (a) in the opening portion, for the words the Board may and on the recommendation made by the Commissioner in this behalf, it is satisfied , the words the Commissioner may and he is satisfied shall, respectively, be substituted with effect from the 1st day of April, 1987; (b) for the words interest payable by an assessee , would cause genuine hardship and interest was payable , the words interest paid or payable by an assessee , has caused or would cause genuine hardship and interest has been paid or was payable shall, respectively, be substituted and shall be deemed to have been substituted with effect from the 1st day of October, 1984.