Section 91 - Amendment of section 245N. - Finance Act, 2012

Amendment of section 245N. 091 . In section 245N of the Income-tax Act, with effect from the 1st day of April, 2013, ( I ) in clause ( a ), after sub-clause ( iii ) and before the proviso, the following sub-clause shall be inserted, namely: "( iv ) a determination or decision by the Authority whether an arrangement, which is proposed to be undertaken by any person being a resident or a non-resident, is an impermissible avoidance arrangement as referred to in Chapter X-A or not."; ( II ) in clause ( b ), ( i ) in sub-clause ( iii ), for the word "and", occurring at the end, the word "or" shall be substituted; ( ii ) after sub-clause ( iii ), the following sub-clause shall be inserted, namely: "( iiia ) is referred to in sub-clause ( iv ) of clause ( a ); and".