Income Tax Act, 2025
Section 8: Ins. by Act 20 of 1967, s. 4 (w.e.f. 11967).
8. Ins. by Act 20 of 1967, s. 4 (w.e.f. 11967).
9. Clause (1A) renumbered as clause (1B) thereof by Act 4 of 1988, s. 3 (w.e.f. 11989).
31
(iii) shareholders holding not less than 1[three-fourths] in value of the shares in the
amalgamating company or companies (other than shares already held therein immediately before
the amalgamation by, or by a nominee for, the amalgamated company or its subsidiary) become
shareholders of the amalgamated company by virtue of the amalgamation,
otherwise than as a result of the acquisition of the property of one company by another company
pursuant to the purchase of such property by the other company or as a result of the distribution of
such property to the other company after the winding up of the first-mentioned company;]
2[(1C) “Additional Commissioner” means a person appointed to be an Additional Commissioner
of Income-tax under sub-section (1) of section 117;
(1D) “Additional Director” means a person appointed to be an Additional Director of Income-tax
under sub-section (1) of section 117;]
(2) “annual value”, in relation to any property, means its annual value as determined
under section 23 ;
3* * * * *
(4) “Appellate Tribunal” means the Appellate Tribunal constituted under section 252;
(5) “approved gratuity fund” means a gratuity fund which has been and continues to be approved
by the 4[5[Principal Chief Commissioner or Chief Commissioner] or 6[Principal Commissioner or
Commissioner]] in accordance with the rules contained in Part C of the Fourth Schedule ;
(6) “approved superannuation fund” means a superannuation fund or any part of a superannuation
fund which has been and continues to be approved by the 4[5[Principal Chief Commissioner or Chief
Commissioner] or 6[Principal Commissioner or Commissioner]] in accordance with the rules
contained in Part B of the Fourth Schedule;
(7) “assesse” means a person by whom 7[any tax] or any other sum of money is payable under
this Act, and includes—
(a) every person in respect of whom any proceeding under this Act has been taken for the
8[assessment of his income or assessment of fringe benefits] or of the income of any other person
in respect of which he is assessable, or of the loss sustained by him or by such other person, or of
the amount of refund due to him or to such other person;
(b) every person who is deemed to be an assessee under any provision of this Act;
(c) every person who is deemed to be an assessee in default under any provision of this Act;
9[(7A) “Assessing Officer” means the 10[11[Assistant Commissioner or Deputy Commissioner] or
12[Assistant Director or Deputy Director]] or the Income-tax Officer who is vested with the relevant
jurisdiction by virtue of directions or orders issued under sub-section (1) orsub-section (2) of
section 120 or any other provision of this Act, and the 2[Additional Commissioner or]
renumbered as clause
thereof by Act 4 of 1988, s. 3 (w.e.f. 11989).
31
shareholders holding not less than 1[three-fourths] in value of the shares in the
amalgamating company or companies (other than shares already held therein immediately before
the amalgamation by, or by a nominee for, the amalgamated company or its subsidiary) become
shareholders of the amalgamated company by virtue of the amalgamation,
otherwise than as a result of the acquisition of the property of one company by another company
pursuant to the purchase of such property by the other company or as a result of the distribution of
such property to the other company after the winding up of the first-mentioned company;]
2[
“Additional Commissioner” means a person appointed to be an Additional Commissioner
of Income-tax under sub-section
of section 117;
“Additional Director” means a person appointed to be an Additional Director of Income-tax
under sub-section
of section 117;]
“annual value”, in relation to any property, means its annual value as determined
under section 23 ;
3* * * * *
“Appellate Tribunal” means the Appellate Tribunal constituted under section 252;
“approved gratuity fund” means a gratuity fund which has been and continues to be approved
by the 4[5[Principal Chief Commissioner or Chief Commissioner] or 6[Principal Commissioner or
Commissioner]] in accordance with the rules contained in Part C of the Fourth Schedule ;
“approved superannuation fund” means a superannuation fund or any part of a superannuation
fund which has been and continues to be approved by the 4[5[Principal Chief Commissioner or Chief
Commissioner] or 6[Principal Commissioner or Commissioner]] in accordance with the rules
contained in Part B of the Fourth Schedule;
“assesse” means a person by whom 7[any tax] or any other sum of money is payable under
this Act, and includes—
every person in respect of whom any proceeding under this Act has been taken for the
8[assessment of his income or assessment of fringe benefits] or of the income of any other person
in respect of which he is assessable, or of the loss sustained by him or by such other person, or of
the amount of refund due to him or to such other person;
every person who is deemed to be an assessee under any provision of this Act;
every person who is deemed to be an assessee in default under any provision of this Act;
9[
“Assessing Officer” means the 10[11[Assistant Commissioner or Deputy Commissioner] or
12[Assistant Director or Deputy Director]] or the Income-tax Officer who is vested with the relevant
jurisdiction by virtue of directions or orders issued under sub-section
orsub-section
of
section 120 or any other provision of this Act, and the 2[Additional Commissioner or]