Section 4 - Amendment of section 2 - Finance (No. 2) Act, 1998

4. Amendment of section 2 In section 2 of the Income-tax Act,- (a) in clause (7A), with effect from notice (sic) October 1998- (i) for the words Assistant Commissioner or Assistant Director , the words (sic) or Deputy Commissioner or Assistant Director or Deputy Director shall be substituted; (ii) for the words Deputy Commissioner or Deputy Director , the words Joint Commissioner or Joint Director shall be substituted; (b) in clause (9A), after the words an Assistant Commissioner of Income-tax , the words or a Deputy Commissioner of Income-tax shall be inserted with effect from the 1st day of October, 1998; (c) for clause (11) the following clause shall be substituted with effect from the 1st day of April, 1999, namely:- (11) block of assets means a group of assets falling within a class of assets comprising- (a) tangible assets, being buildings, machinery, plant or furniture; (b) intangible assets, being know-how, patents, copyrights, trade marks, licences, franchises or any other business or commercial rights of similar nature. In respect of which the same percentage of depreciation is prescribed; (d) in clause (19A), the words or an Additional Commissioner of Income-tax shall be omitted with effect from the 1st day of October, 1998; (e) in clause (19C), the words or an Additional Commissioner of Income-tax shall be omitted with effect from the 1st day of October, 1998; (f) after clause (28B), the following clauses shall be inserted with effect from the 1st day of October, 1998, namely:- (28C) Joint Commissioner means a person appointed to be a Joint Commissioner of Income-tax or an Additional Commissioner of Income-tax under sub-section (1) of section 117; (28D) Joint Director means a person appointed to be a Joint Director of Income-tax or an Additional Director of Income-tax under sub-section (1) of section 117; (g) in clause (30), the words, figure and brackets, and for the purposes of sections 92, 93 and 168 includes a person who is not ordinarily resident within the meaning of sub-section (6) of section 6 shall be omitted with effect from the 1st day of April, 1999.