(See Section 30)
Amendment of Certain Enactments
Amendments to the Income-Tax Act, 1961 (43 of 1961)
1. In section 2, after clause (29C), the following clause shall be inserted, namely:-
'(29D) "National Tax Tribunal" means the National Tax Tribunal established under section 3 of the National Tax Tribunal Act, 2005;'.
2. In Chapter XX,-
(i) in section 254, in sub-section (4), for the words, figures and letter "Save as provided in section 256 or section 260A", the words and figures "Save as provided in the National Tax Tribunal Act, 2005" shall be substituted;
(ii) sub-heading "C.-Reference to High Court" and sections 256, 258 and 259 shall be omitted;
(iii) for section 260, the following section shall be substituted, namely:-
"260. Effect to the decisions of Supreme Court and of the National Tax Tribunal.-
(1) The Supreme Court upon hearing any reference made to it by the Appellate Tribunal under section 257 shall decide the question of law raised therein, and shall deliver its judgment thereon containing the grounds on which such decision is founded, and a copy of the judgment shall be sent under the seal of the Court and the signature of the Registrar to the Appellate Tribunal which shall pass such orders as are necessary to dispose of the case conforming to such judgment.
(2) Where the National Tax Tribunal delivers a judgment in an appeal filed before it or in any matter transferred to it under the National Tax Tribunal Act, 2005, effect shall be given to the order of that Tribunal by the assessing officer on the basis of certified copy of the judgment.
(3) The cost of any reference to the Supreme Court which shall not include the fee for making the reference shall be at the discretion of the Court.";
(iv) in section 260A, in sub-section (1), after the words "order passed in appeal by the Appellate Tribunal", the words "before the date of establishment of the National Tax Tribunal" shall be inserted;
(v) in section 261, after the words "any judgment of the High Court delivered", the words "before the establishment of the National Tax Tribunal" shall be inserted;
(vi) in section 263, in sub-section (3), after the words "the Appellate Tribunal,", the words "National Tax Tribunal," shall be inserted;
(vii) in section 264, in sub-section (7), after the words "the Appellate Tribunal,", the words "National Tax Tribunal," shall be inserted.