Section 4 - Special provision in relation to advance tax payable during the financial year 1975-76 - Finance (Amendment) Act, 1975

4. Special provision in relation to advance tax payable during the financial year 1975-76. Notwithstanding the amendments made by this Act to the principal Act, where, in the case of an assessee, an order has been made by the Income-tax Officer under section 210 of the Income-tax Act, 1961 (43 of 1961) and in pursuance thereof a notice of demand for payment of advance tax during the financial year commencing on the 1st day of April, 1975 has been issued by the Income-tax Officer before the commencement of this Act,- (i) the validity of such order or notice shall not be called in question merely on the ground that the rate or rates for the purposes of computing the advance tax have been varied by this Act; (ii) every such order and notice of demand shall have effect as if the amount of advance tax specified therein had been substituted by the amount of advance tax computed in accordance with the rate or rates as so varied; and (iii) the excess amount, if any, paid by the assessee in an instalment due on the 15th day of June, 1975 may be adjusted against the amount payable in the instalment due on the 15th day of September, 1975. Explanation. All words and expressions used in this section which are defined in the Income-tax Act, 1961 (43 of 1961) shall have the meanings, respectively, assigned to them in that Act.