TMI BlogAmendment of section 144C.X X X X Extracts X X X X X X X X Extracts X X X X ..... tuted with effect from the 1 st day of October, 2009; (b) after sub-section (8), the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2009, namely: Explanation . For the removal of doubts, it is hereby declared that the power of the Dispute Resolution Panel to enhance the variation sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he prior approval of the Commissioner under sub-section (12) of section 144BA. . - Clause 60 of the Bill seeks to amend section 144C of the Income-tax Act relating to reference to dispute resolution panel. The existing provisions contained in sub-section (4) of the aforesaid section 144C provide that the Assessing Officer shall, notwithstanding anything contained in section 153 of the Incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nation in the aforesaid sub-section so as to clarify that the power of the Dispute Resolution Panel to enhance the variation shall include and shall be deemed always to have included the power to consider any matter arising out of the assessment proceedings relating to the draft order, notwithstanding that such matter was raised or not by the eligible assessee. This amendment will take effect r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... provide that provisions of section144C shall not apply to an assessment or reassessment order passed by the Assessing Officer with the approval of the Commissioner in accordance with sub-section (12) of newly inserted section 144BA. This amendment will take effect from 1st April, 2013 and will, accordingly, apply in relation to the assessment year 2013-2014 and subsequent assessment years. - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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