Section 74 - Amendment of section 24 - Taxation Laws (Amendment) Act, 1984

74. Amendment of section 24. In section 24 of the Gift-tax Act, with effect from the 1st day of October, 1984, (a) In sub-section (2), the following Explanation shall be inserted at the end namely:- Explanation. For the removal of doubts, it is hereby declared that, for the purposes of this sub-section, an order passed by a Gift-tax Officer shall include an order passed by an Inspecting Assistant Commissioner in exercise of the powers or in performance of the functions of a Gift-tax Officer conferred on, or assigned to, him under clause (a) of sub-section (1) of section 7A or under sub-section (1) of section 7AA. ; (b) in sub-section (3), for the words from the date of the order sought to be revised , the words from the end of the financial year in which the order sought to be revised was passed shall be substituted.