Section 122 - Insertion of new section 41C - Taxation Laws (Amendment) Act, 1975

122. Insertion of new section 41C. After section 41B of the GifL- ax Act, the following section shall be inserted, namely: 41C. Return of gifts, etc., not to be invalid on certain grounds. No return of gifts, assessment, notice, summons or other proceeding, furnished or made or issued or taken or purported to have been furnished or made or issued or taken in pursuance of any of the provisions of this Act shall be invalid or shall be deemed to be invalid merely by reason of any mistake, defect or omission in such return of gifts, assessment, notice, summons or other proceeding, if such return of gifts, assessment, notice, summons or other proceeding is in substance and effect in conformity with or according to the intent and purpose of this Act .