Clause 33 - Amendment of Section 153A - Finance Bill, 2008

33. Section 153A of the Income-tax Act shall be renumbered as sub-section ( 1 ) thereof and,— ( a ) in sub-section ( 1 ) as so renumbered, in the second proviso, for the words "referred to in this section", the words "referred to in this sub-section" shall be substituted and shall be deemed to have been substituted with effect from the 1 st day of June, 2003; ( b ) after sub-section ( 1 ) as so renumbered and before the Explanation , the following shall be inserted and shall be deemed to have been inserted with effect from the 1 st day of June, 2003, namely:— ''( 2 ) If any proceeding initiated or any order of assessment or reassessment made under subsection ( 1 ) has been annulled in appeal or any other legal proceeding, then, notwithstanding anything contained in sub-section ( 1 ) or section 153, the assessment or reassessment relating to any assessment year which has abated under the second proviso to sub-section ( 1 ), shall stand revived with effect from the date of receipt of the order of such annulment by the Commissioner: Provided that such revival shall cease to have effect, if such order of annulment is set aside.".