Section 7 - Amendment of section 154 - Direct Taxes (Amendment) Act, 1964

7. Amendment of section 154. In section 154 of the Income-tax Act, (a) in sub-section (1), (i) in clause (b), for the words and figures in, appeal under section 250 , the words and figures under section 250 or section 271 shell be substituted; (ii) after clause (b), the following clause shall be inserted, namely: (bb) the Inspecting Assistant Commissioner may amend any order passed by him in any proceeding under sub-section (2) of section 274; ; (b) after sub-section (1), the following sub-section shall be inserted, namely: (1A) Where any matter has been considered and decided in any proceeding by way of appeal or revision relating to an order referred to in sub-section (1), the authority passing such order may, notwithstanding anything contained in any law for the time being in force, amend the order under that sub-section in relation to any matter other than the matter which has been so considered and decided. .