Finance (Miscellaneous Provisions) Act, 1968
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Application of Part IV. |
24.—(1) This Part shall have effect— | |
(a) for the year 1967-68 and subsequent years of assessment, in substitution for Chapter VII of Part IV of the Income Tax Act, 1967 , and | ||
(b) for the years 1965-66 and 1966-67, in substitution for Part VII of the Finance Act, 1965 , and as if for every reference in this Part to a provision of the Income Tax Act, 1967 , there were substituted a reference to the corresponding provision of the enactments referred to in section 554 (1) of that Act as the repealed enactments: | ||
Provided that no assessment shall be made pursuant to this Part for the year 1965-66, 1966-67 or 1967-68 which could not properly have been made if this Part had not been enacted. | ||
(2) Any assessment which, immediately before the passing of this Act, stood made or purporting to have been made pursuant to Part VII of the Finance Act, 1965 , or Chapter VII of Part IV of the Income Tax Act, 1967 , shall be deemed to be an assessment made under this Part, but if it has become final and conclusive, the person assessed may by notice in writing delivered to the inspector within three months after such passing require that, for all the purposes of the Income Tax Acts, it shall be treated as an assessment in respect of which an appeal is pending. |