Section 37 - Amendment of section 153B. - Finance Act, 2008

Amendment of section 153B. 37. In section 153B of the Income-tax Act, in sub-section (1), with effect from the 1 st day of June, 2003,— (i) in clause (a), for the word, figures and letter "section 153A", the words, brackets, figures and letter "sub-section (1) of section 153A" shall be substituted and shall be deemed to have been substituted; (ii) in the Explanation ,— (A) after clause (vi) and before the words "shall be excluded", the following clause shall be inserted and shall be deemed to have been inserted, namely:— ''(vii) the period commencing from the date of annulment of a proceeding or order of assessment or reassessment referred to in subsection (2) of section 153A till the date of the receipt of the order setting aside the order of such annulment, by the Commissioner,"; (B) in the proviso, for the words, brackets and letters "clause (a) or clause (b) of this section", the words, brackets and letters "clause (a) or clause (b) of this sub-section" shall be substituted and shall be deemed to have been substituted.