Definitions.2. In this Act, unless the context otherwise requires,— (
1) "Appellate Tribunal" means the Appellate Tribunal constituted under section 252 of the Income-tax Act;
2[(2) "assessee" means a person,— (
a) being a resident in India within the meaning of section 6 of the Income-tax Act, 1961 (43 of 1961) in the previous year; or (
b) being a non-resident or not ordinarily resident in India within the meaning of clause (
6) of section 6 of the Income-tax Act, 1961 in the previous year, who was resident in India either in the previous year to which the income referred to in section 4 relates; or in the previous year in which the undisclosed asset located outside India was acquired:
Provided that the previous year, in case of acquisition of undisclosed asset outside India, shall be determined without giving effect to the provisions of clause (
c) of section 72.] (
3) "assessment" includes reassessment; (
4) "assessment year" means the period of twelve months commencing on the 1st day of April every year; (
5) "Board" means the Central Board of Direct Taxes constituted under the Central Boards of Revenue Act, 1963 (54 of 1963); (
6) "Income-tax Act" means the Income-tax Act, 1961 (43 of 1961); (
7) "participant" means— (
a) a partner in relation to a firm; or (
b) a member in relation to an association of persons or body of individuals; (
8) "prescribed" means prescribed by rules made under this Act; (
9) "previous year" means— (
a) the period beginning with the date of setting up of a business and ending with the date of the closure of the business or the 31st day of March following the date of setting up of such busines
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