Rescinds the Notification Number 229/2007 dated 21st August, 2007 - 78/2016 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION No. 78/2016 New Delhi, the 6th September, 2016 S.O. 2883(E). -In exercise of the powers conferred under clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 read with rules 5C and 5E of the Income-tax Rules, 1962 , the Central Government hereby rescinds the notification of the Government of India, Ministry of Finance, Department of Revenue number 229/2007 dated 21st August, 2007 published in the Gazette of India, Part II, Section 3, Subsection (ii) vide S.O. 2428 dated 21st August, 2007 with effect from 1st April, 2004 and shall be deemed that the said notification has not been issued for any tax benefits under the Income-tax Act, 1961 or any other law of the time being in force. [F. No. 203/29/2005/ITA. II] DEEPSHIKHA SHARMA, Director