Clause 46 - Amendment of Section 254 - Finance Bill, 2008

46. In section 254 of the Income-tax Act, in sub-section ( 2A ), for the third proviso, the following proviso shall be substituted with effect from the 1 st day of October, 2008, namely:— ''Provided also that if such appeal is not so disposed of within the period allowed under the first proviso or the period or periods extended or allowed under the second proviso, which shall not, in any case, exceed three hundred and sixty-five days, the order of stay shall stand vacated after the expiry of such period or periods, even if the delay in disposing of the appeal is not attributable to the assessee.".