{"act":{"id":"finance-act-2013","short_title":"The Finance Act, 2013","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2013-2014.","act_number":null,"act_year":2013,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":142,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2013/"},"unit":"section","section":{"number":"53","heading":"Amendment of section 245N","text":"Amendment of section 245N. 53. In section 245N of the Income-tax Act,— (i) | in clause (a),— (I) | sub-clause (iv) shall be omitted; (II) | after sub-clause (iii), the following sub-clause shall be inserted with effect from the 1st day of April, 2015, namely:— \"(iv) a determination or decision by the Authority whether an arrangement, which is proposed to be undertaken by any person being a resident or a non-resident, is an impermissible avoidance arrangement as referred to in Chapter X-A or not:\"; (ii) | in clause (b),— (I) | sub-clause (iiia) shall be omitted; (II) | in sub-clause (iii), for the word \"or\" occurring at the end, the word \"and\" shall be substituted; (III) | in sub-clause (iii), for the word \"and\" occurring at the end, the word \"or\" shall be substituted with effect from the 1st day of April, 2015; (IV) | after sub-clause (iii), the following sub-clause shall be inserted with effect from the 1st day of April, 2015, namely:— \"(iiia) is referred to in sub-clause (iv) of clause (a); and\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"Amendment of section 245N.
53. In section 245N of the Income-tax Act,—
| (I) | | sub-clause (iv) shall be omitted; |
| (II) | | after sub-clause (iii), the following sub-clause shall be inserted with effect from the 1st day of April, 2015, namely:— |
| | \"(iv) a determination or decision by the Authority whether an arrangement, which is proposed to be undertaken by any person being a resident or a non-resident, is an impermissible avoidance arrangement as referred to in Chapter X-A or not:\"; |
| (ii) | | in clause (b),— |
| (I) | | sub-clause (iiia) shall be omitted; |
| (II) | | in sub-clause (iii), for the word \"or\" occurring at the end, the word \"and\" shall be substituted; |
| (III) | | in sub-clause (iii), for the word \"and\" occurring at the end, the word \"or\" shall be substituted with effect from the 1st day of April, 2015; |
| (IV) | | after sub-clause (iii), the following sub-clause shall be inserted with effect from the 1st day of April, 2015, namely:— |
| | \"(iiia) is referred to in sub-clause (iv) of clause (a); and\". |
© Copyright. Taxmann Publications Pvt. Ltd.
","words":181,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2013/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."}