Amendment of section 273A.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nation, after the words "as not to attract the provisions of", the words, figures and letter "section 270A or" shall be inserted; (b) in sub-section (2), in clause (b), after the words "if in a case falling under", the words, figures and letter "section 270A or" shall be inserted; (ii) after sub-section (4), the following sub-section shall be inserted with effect from the 1st day of June, 2016,....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....d clause seeks to amend sub-section (1) of the said section. Clause (ii) of sub-section (1) of section 273A provides for reduction or waiver of penalty imposed or imposable under clause (iii) of sub-section (1) of section 271. Explanation to the said sub-section clarifies that if the nature of income assessed over the returned income is such that it does not attract provisions of clause (c) of su....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... in relation to the assessment year 2017-2018 and subsequent years. Sub-clause (ii) of the said clause seeks to insert a new subsection (4A) in the said section so as to provide that an order accepting or rejecting application of an assessee shall be passed by the concerned Principal Commissioner or Commissioner within a period of twelve months from the end of the month in which such application ....