Amendment of Act 22 of 2015.- Amendment of section 46.- Amendment of section 55.

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..... Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, with effect from the 1st day of April, 2018,-- Amendment of section 46. (a) in section 46, in sub-section (4),-- (i) in the opening portion, after the words "Joint Commissioner,", the words "or the Joint Director" shall be inserted; (ii) in clause (b), after the words "Deputy Commissioner", the words "or Ass .....

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..... es that an order imposing a penalty shall be made with the approval of the Joint Commissioner in certain circumstances specified therein. It is proposed to amend the said sub-section so as to provide that the Joint Director shall also be vested with the power to approve an order imposing penalty. It is further proposed to amend clause (b) of the said sub-section so as to empower the Assistant Di .....

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