Insertion of new section 245W
Section 85 of the Finance Act, 2021 deals with insertion of new section 245W. Insertion of new section 245W. 85. After section 245V of the Income-tax Act, the following section shall be inserted, namely:— "245W.
Insertion of new section 245W.
85. After section 245V of the Income-tax Act, the following section shall be inserted, namely:—
"245W. Appeal.—(1) The applicant, if he is aggrieved by any ruling pronounced or order passed by the Board for Advance Rulings or the Assessing Officer, on the directions of the Principal Commissioner or Commissioner, may appeal to the High Court against such ruling or order of the Board for Advance Rulings within sixty days from the date of the communication of that ruling or order, in such form and manner, as may be prescribed:
Provided that where the High Court is satisfied, on an application made by the appellant in this behalf, that the appellant was prevented by sufficient cause from presenting the appeal within the period specified in sub-section (1), it may grant further period of thirty days for filing such appeal.
(2) The Central Government may make a scheme, by notification in the Official Gazette, for the purposes of filing appeal to the High Court under sub-section (1) by the Assessing Officer, so as to impart greater efficiency, transparency and accountability by—
(a) optimising utilisation of the resources through economies of scale and functional specialisation; (b) introducing a team-based mechanism with dynamic jurisdiction. (3) The Central Government may, for the purposes of giving effect to the scheme made under sub-section (2), by notification in the Official Gazette, direct that any of the provisions of this Act shall not apply or shall apply with such exceptions, modifications and adaptations as may be specified in the said notification:
Provided that no such direction shall be issued after the 31st day of March, 2023.
(4) Every notification issued under sub-section (2) and sub-section (3) shall, as soon as may be after the notification is issued, be laid before each House of Parliament.".
Section 85, The Finance Act, 2021.
Cross-references
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Questions about Section 85
What does Section 85 of the Finance Act deal with?
Section 85 of the Finance Act is headed "Insertion of new section 245W". Insertion of new section 245W. 85. After section 245V of the Income-tax Act, the following section shall be inserted, namely:— "245W.
How do I find court cases under Section 85 of the Finance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2021 85, section 85 Finance Act 2021, section 85 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 85 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 245V (Procedure of Authority), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 2021. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- Fourth Schedule. Fourth Schedule26628 words
- First Schedule. First Schedule9574 words
- 2. Income-tax5993 words
- 6. Amendment of section 103582 words
- 130. Substitution of new section for section 43513 words
- 131. Substitution of new section for section 52699 words
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