{"act":{"id":"finance-act-2010","short_title":"The Finance Act, 2010","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2010-2011.","act_number":null,"act_year":2010,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":60,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2010/"},"unit":"section","section":{"number":"53","heading":"Amendment of section 22A","text":"Wealth-tax Amendment of section 22A. 53. In section 22A of the Wealth-tax Act, 1957 (27 of 1957) (hereinafter referred to as the Wealth-tax Act), in clause (b), with effect from the 1st day of June, 2010,— (i ) in the proviso, clause (iii) shall be omitted; (ii ) in the Explanation,— (a) for clause (iii), the following clause shall be substituted, namely:— \"(iii) a proceeding for assessment or reassessment for any of the assessment years, in consequence of a search initiated under section 37A or requisition made under section 37B, shall be deemed to have commenced on the date of issue of notice initiating such proceedings and concluded on the date on which the assessment is made;\". (b) in clause (iv), for the words, brackets and figures \"or clause (iii) of the proviso\", the words, brackets and figures \"of the proviso or clause (iii ) of the Explanation\" shall be substituted. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><i>Wealth-tax</i></p><p><b>Amendment of section 22A.</b></p><p><b>53.</b> In section 22A of the Wealth-tax Act, 1957 (27 of 1957) (hereinafter referred to as the Wealth-tax Act), in clause (<i>b</i>), with effect from the 1st day of June, 2010,—</p><p>(<i>i</i> ) in the proviso, clause (<i>iii</i>) shall be omitted;</p><p>(<i>ii</i> ) in the <i>Explanation,</i>—</p><p>(<i>a</i>) for clause (<i>iii</i>), the following clause shall be substituted, namely:—</p><p>\"(<i>iii</i>) a proceeding for assessment or reassessment for any of the assessment years, in consequence of a search initiated under section 37A or requisition made under section 37B, shall be deemed to have commenced on the date of issue of notice initiating such proceedings and concluded on the date on which the assessment is made;\".</p><p>(<i>b</i>) in clause (<i>iv</i>), for the words, brackets and figures \"or clause (<i>iii</i>) of the proviso\", the words, brackets and figures \"of the proviso or clause (<i>iii</i> ) of the <i>Explanation</i>\" shall be substituted.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":157,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2010/section/53/","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."}