Section 180 - Amendment of section 55. - Finance (No. 2) Act, 2019

Amendment of section 55. 180. In section 55 of the principal Act, with effect from the 1st day of September, 2019,- (i) for the word Board , the words competent authority shall be substituted; (ii) the following Explanation shall be inserted, namely: Explanation . For the purposes of this section, competent authority means a Commissioner, a Director, a Principal Commissioner of Income-tax or a Principal Director of Income-tax as defined in clause (16), clause (21), clause (34B) and clause (34C), respectively, of section 2 of the Income-tax Act, 1961 (43 of 1961.). .