Section 35 - Amendment of section 209 - Taxation Laws (Amendment) Act, 1970

35. Amendment of section 209. In section 209 of the Income-tax Act, for clause (d) and the Explanation at the end, the following clause and Explanation shall be substituted, namely: (d) in cases where- (i) the total income of the latest previous year [being a year later than the previous year referred to in clause (a)] on the basis of which tax has been paid by the assessee under section 140A exceeds the total income referred to in clause (a), or (ii) the Income-tax Officer makes an amended order referred to in sub-section (3) of section 210 on the basis of the total income on which tax has been paid by the assessee under section 140A, the total income referred to in clause (a) shall be substituted,- (1) in a case falling under sub-clause (i), by the total income on the basis of which tax has been paid under section 140A, and (2) in a case falling under sub-clause (ii), by the total in- come on the basis of which the amended order under sub-section (3) of section 210 is made. Explanation. If the assessee is a partner of a registered firm and an assessment of the firm has been completed for a previous year later than the latest previous year for which the assessee s assessment has been completed, his share in the income of the firm shall, for the purposes of clause (a), be included in his total income on the basis of the said assessment of the firm. .