Taxation Laws (Amendment) Act, 2021

CHAPTER II

AMENDMENT TO THE INCOME-TAX ACT, 1961

Amendment of section 9

2. In section 9 of the Income-tax Act, 1961 (43 of 1961), in sub-section (1), in clause (i), in Explanation 5, after the third proviso, the following provisos shall be inserted, namely:-

"Provided also that nothing contained in this Explanation shall apply to-

(i)	-	an assessment or reassessment to be made under section 143, section 144, section 147 or section 153A or section 153C; or
(ii)	-	an order to be passed enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154; or
(iii)	-	an order to be passed deeming a person to be an assessee in default under sub-section (1) of section 201,

in respect of income accruing or arising through or from the transfer of an asset or a capital asset situate in India in consequence of the transfer of a share or interest in a company or entity registered or incorporated outside India made befor .... To read the full section download the app from Google Play store