Income Tax Settlement Commission (Procedure) Amendment Rules, 1999 - G.S.R. 698(E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) SETTLEMENT COMMISSION (IT WT) NOTIFICATION New Delhi, the 12 th October, 1999 G.S.R. 698(E). -In exercise of the powers conferred by sub-section (7) of Section 245F of the Income Tax Act, 1961 (43 of 1961) Income Tax Settlement Commission hereby makes the following Rules, 1997. 2. These may be called the Income Tax Settlement Commission (Procedure) Amendment Rules, 1999. 3. This shall come into force on the date of publication in the Official Gazette. 4. The existing Rule, 9 of the Income Tax Settlement Commission (Procedure) Rules, 1997 shall be substituted by the following, 9. Commissioner s further report: -Where an order is passed by the Commission under sub-section (1) of section 245D allowing the Settlement application to be proceeded with, a copy of the Annexure to the said application together with a copy of each of the statements and other documents accompanying such Annexure, shall be forwarded to the Commissioner along with a copy of the said order with the direction that the Commissioner shall furnish a further report within ninety days of the receipt of the said Annexure (including the statements and other documents accompanying it) or within such further period as the Commission may specify. If the Commissioner fails to furnish his report on or before the expiry of the specified period of 90 days or such extended period, the Commission may pass the appropriate order without such report. [F. No. 1/49/Tech./99-SC/2084] P. K. SINHA, Secy. Income Tax Settlement Commission