Income-tax Act,1961
Act No : 43
Section :
Rules and certain notifications to be placed before Parliament
3[296. Rules and certain notifications to be placed before Parliament The Central Government shall cause every rule made under this Act 4[, the rules of procedure framed by the Settlement Commission under subsection (7) of section 245F, the Authority for Advance Rulings under section 245V and the Appellate Tribunal under sub-section (5) of section 2551 and every notification issued under sub-clause (iv) of clause (23C) of section 10 to be laid as soon as may be after the rule is made or the notification is issued before each House of Parliament while it is in session for a total period of thirty days, which may be comprised in one session or in two or more successive sessions, and, if before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or notification or both Houses agree that the rule or notification should not be made or issued, that rule or notification shall thereafter have effect, only in such modified form or be of no effect, as the case may be; so, ----------------------------------------------------------------------- 2 Inserted by the Direct Taxes (Amendment) Act, 1974, w.e.f. 18-8- 1974. 3 Substituted by the Taxation Laws (Amendment) Act, 1975, w.e.f. 1- 4-1976. Restored to its original provision by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989. Earlier, it was substituted by the Direct Tax Laws (Amendment) Act, 1987, with effect from the same date. 4 Inserted by the Finance Act, 1994, w.e.f. 1-6-1994. --------------------------------------------------------------------- 1.818 however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule or notification.]
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