# The Finance Act, 1987, Section 57: Substitution of new section for section 245A

- Act: The Finance Act, 1987 (Act 11 of 1987)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1987/section/57/

## Text

Substitution of new section for section 245A 57. For section 245A of the Income-tax Act, the following section Shall be substituted with effect from the 1st day of June, 1987, namely:— Definitions '245A. In this Chapter, unless the context otherwise requires,— (a) "Bench" means a Bench of the Settlement Commission; (b) "case" means any proceeding under this Act for the assessment or re-assessment of any person in respect of any year or years, or by way of appeal or revision in connection with such assessment or re-assessment, which may be pending before an income-tax authority on the date on which an application under sub-section (1) of section 245C is made: Provided that where any appeal of application for revision has been preferred after the expiry of the period specified for the filing of such appeal or application for revision under this Act and which has not been admitted, such appeal or revision shall not be deemed to be proceeding pending within the meaning of this clause; (c) "Chairman" means the Chairman of the Settlement Commission; (d) "income-tax authority" means an income-tax authority specified in section 116; (e) "Member" means a Member of the Settlement Commission, and includes the Chairman and a Vice-Chairman; (f) "Settlement Commission" means the Income-tax Settlement Commission constituted under section 245B; (g)"Vice-Chairman" means a Vice-Chairman of the Settlement Commission.'. [Finance Act, 1987] © Copyright. Taxmann Publications Pvt. Ltd.

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