Ammendments in different acts. - Income Tax - 926/CBDT

INSTRUCTION NO. 926/CBDT Dated : February 26, 1976 During the proclamation of Emergency which lasted upto 10th January, 1968, several amendments were made to the Estate Duty Act through enactments made by the Parliament. The amendments were made through the following Acts:- 1. Central Boards of Revenue Act, 1963. 2. Finance Act, 1964, 3. The Taxation Laws (Continuation Validation of Recovery Proceedings) Act, 1964, 4. The Direct Taxes (Amendment) Act, 1964, 5. The Finance Act, 1965, 6. The Finance (No. 2) Act, 1965, 7. The Taxation Laws (Amendment Miscellaneous Provisions) Act, 1966. 2. A note on the important changes made in the Estate Duty Act by these Acts is enclosed. 3. Section 5A(2) of the Estate Duty Act introduced in the year 1968 provided that the amendments made to the Estate Duty Act by the above mentioned eight Acts shall apply to Estate Duty in respect of agricultural lands situated in the territories comprised in the States of Gujarat, Madras, Maharashtra and Rajasthan and any other States which may be notified by the Central Government in this behalf after necessary resolutions have been passed by the Legislatures of those States. While other States have passed the required resolutions, the Punjab Government have not passed any resolution in this respect and have informed the Central Government that they do not consider any further action necessary in this respect. The result is that from the 10th July, 1968 amendments made to the Estate Duty Act by the above mentioned eight Acts ceased to have effect in respect of agricultural lands situated in the State of Punjab. 4. This may please be brought to the notice of all the Assessing Officers in your charges.