Validation of demand, etc., under Income tax Act, 1961 in certain cases.

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..... axes levied, demanded, assessed, imposed, collected or recovered or purporting to have been levied, demanded, assessed, imposed, collected or recovered under the provisions of Income-tax Act, 1961, in respect of income accruing or arising through or from the transfer of a capital asset situate in India in consequence of the transfer of a share or shares of a company registered or incorporated outs .....

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..... s amended by this Act, and the rules made thereunder and there shall be no liability or obligation to make any refund whatsoever. - Clause 113 of the Bill seeks to provide for validation of demand, etc., under Income-tax Act, 1961 in certain cases in respect of income accruing or arising through or from the transfer of a capital asset situate in India in consequence of transfer of a share or share .....

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