Section 106 - Amendment of section 273A. - Finance Act, 2016

Amendment of section 273A. 106. In section 273A of the Income-tax Act,- (i) with effect from the 1st day of April, 2017,- (a) in sub-section (1),- (I) in clause (ii), after the words or imposable on a person under , the words, figures and letter section 270A or shall be inserted; (II) in the Explanation, 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, namely:- (4A) The order under sub-section (4), either accepting or rejecting the application in full or in part, shall be passed within a period of twelve months from the end of the month in which the application under the said sub-section is received by the Principal Commissioner or the Commissioner: Provided that no order rejecting the application, either in full or in part, shall be passed unless the assessee has been given an opportunity of being heard: Provided further that where any application is pending as on the 1st day of June, 2016, the order shall be passed on or before the 31st day of May, 2017. .