{"act":{"id":"finance-act-2002","short_title":"The Finance Act, 2002","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2002-2003.","act_number":null,"act_year":2002,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":124,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2002/"},"unit":"section","section":{"number":"95","heading":"Amendment of section 245D","text":"Amendment of section 245D. 95. In section 245D of the Income-tax Act, with effect from the 1st day of June, 2002,— (a ) in sub-section (1), for the words \"the Settlement Commission may, by order, allow the application to be proceeded with or reject the application\", the words, figures and letter \"the Settlement Commission, shall, where it is possible, by order, reject the application or allow the application to be proceeded with within a period of one year from the end of the month in which such application was made under section 245C\" shall be substituted; (b ) after sub-section (4), the following sub-section shall be inserted, namely:— \"(4A) In every application allowed to be proceeded with under sub-section (1), the Settlement Commission shall, where it is possible, pass an order under sub-section (4) within a period of four years from the end of the financial year in which such application was allowed to be proceeded with.\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 245D.</b></p><p><b>95.</b> In section 245D of the Income-tax Act, with effect from the 1st day of June, 2002,—</p><p>(<i>a</i> ) in sub-section (1), for the words \"the Settlement Commission may, by order, allow the application to be proceeded with or reject the application\", the words, figures and letter \"the Settlement Commission, shall, where it is possible, by order, reject the application or allow the application to be proceeded with within a period of one year from the end of the month in which such application was made under section 245C\" shall be substituted;</p><p>(<i>b</i> ) after sub-section (4), the following sub-section shall be inserted, namely:—</p><p>\"(4A) In every application allowed to be proceeded with under sub-section (1), the Settlement Commission shall, where it is possible, pass an order under sub-section (4) within a period of four years from the end of the financial year in which such application was allowed to be proceeded with.\".</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":163,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2002/section/95/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}