Clause 34 - Amendment of Section 153B - Finance Bill, 2008

34. In section 153B of the Income-tax Act, in sub-section ( 1 ), with effect from the 1 st day of June, 2003,— ( i ) in clause ( a ), for the word, figures and letter "section 153A", the words, brackets, figures and letter "sub-section ( 1 ) of section 153A" shall be substituted and shall be deemed to have been substituted; (ii) in the Explanation,— ( A ) after clause ( vi ) and before the words "shall be excluded", the following clause shall be inserted and shall be deemed to have been inserted, namely:— ''( vii ) the period commencing from the date of annulment of a proceeding or order of assessment or reassessment referred to in sub-section ( 2 ) of section 153A till the date of the receipt of the order setting aside the order of such annulment, by the Commissioner,"; ( B ) in the proviso, for the words, brackets and letters "clause ( a ) or clause ( b ) of this section", the words, brackets and letters "clause ( a ) or clause ( b ) of this sub-section" shall be substituted and shall be deemed to have been substituted.