Clause 106 - Definitions - Finance Bill, 2013

106. In this Chapter, unless the context otherwise requires , ( 1 ) Appellate Tribunal means the Appellate Tribunal constituted under section 252 of the Income tax Act, 1961; (43 of 1961) ( 2 ) Assessing Officer means the Income-tax Officer or Assistant Commissioner of Income-tax or Deputy Commissioner of Income-tax or Joint Commissioner of Income-tax or Additional Commissioner of Income-tax who is authorised by the Board to exercise or perform all or any of the powers and functions conferred on, or assigned to, an Assessing Officer under this Chapter; ( 3 ) Board means the Central Board of Direct Taxes constituted under the Central Boards of Revenue Act, 1963;(54 of 1963). ( 4 ) commodities transaction tax means tax leviable on the taxable commodities transactions under the provisions of this Chapter; ( 5 ) commodity derivative means ( i ) a contract for delivery of goods which is not a ready delivery contract; or ( ii ) a contract for differences which derives its value from prices or indices of prices ( A ) of such underlying goods; or ( B ) of related services and rights, such as warehousing and freight; or ( C ) with reference to weather and similar events and activities, having a bearing on the commodity sector; ( 6 ) prescribed means prescribed by rules made under this Chapter; ( 7 ) taxable commodities transaction means a transaction of sale of commodity derivatives in respect of commodities, other than agricultural commodities, traded in recognised associations; ( 8 ) words and expressions used but not defined in this Chapter and defined in the Forward Contracts (Regulation) Act, 1952(74 of 1952), the Income-tax Act, 1961(43 of 1961), or the rules made thereunder, shall have the meanings respectively assigned to them in those Acts.