Section 66 - Amendment of section 275 - Taxation Laws (Amendment) Act, 1975

66. Amendment of section 275. In section 275 of the Income-tax Act, for the Explanation, the following Explanation shall be substituted, namely: Explanation. In computing the period of limitation for the purposes of this section, (i) the time taken in giving an opportunity to the assessee to be re-heard under the proviso to section 129; (ii) any period during which the immunity granted under section 245H remained in force; and (iii) any period during which a proceeding under this Chapter for the levy of penalty is stayed by an order or injunction of any court, shall be excluded. .