Section 87 - Amendment of section 16A - Finance (No. 2) Act, 1991

87. Amendment of section 16A. In section 16A of the Gift-tax Act, in Explanation 1, the following proviso shall be inserted at the end, namely: Provided that where immediately after the exclusion of the aforesaid time or period, the period of limitation referred to in sub-sections (2), (2) and (3) available to the Assessing Officer for making an order of assessment or reassessment, as the case may be, is less than sixty days, such remaining period shall be extended to sixty days and the aforesaid period of limitation shall be deemed to be extended accordingly. .