Section 86 - Amendment of section 15 - Finance (No. 2) Act, 1991

86. Amendment of section 15. In section 15 of the Gift-tax Act, with effect from the 1st day of October. 1991 (a) in sub-section (2), for the proviso, the following proviso shall be substituted, namely: Provided that no notice under this sub-section shall be served on, the assessee after the expiry of twelve months from the end of the month in which the return is furnished. ; (b) the following Explanation shall be- inserted, at the end, namely: Explanation. An intimation sent to the assessee under subsection (2) or sub-section (1B) shall be deemed to be an order for the purposes of sub-section (2) of section 24. .