# The Finance Act, 2019 (No. 2), Section 180: Amendment of section 55

- Act: The Finance Act, 2019 (No. 2)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2019-no-2/section/180/

## Text

Amendment of section 55 180. In section 55 of the principal Act, with effect from the 1st day of September, 2019,— (i) | for the word "Board", the words "competent authority" shall be substituted; (ii) | the following Explanation shall be inserted, namely:— 'Explanation.—For the purposes of this section, "competent authority" means a Commissioner, a Director, a Principal Commissioner of Income-tax or a Principal Director of Income-tax as defined in clause (16), clause (21), clause (34B) and clause (34C), respectively, of section 2 of the Income-tax Act, 1961 (43 of 1961).'.

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