Income Tax Act, 2025
Section 6: Ins. by Act 26 of 1974, s. 14 (w.e.f. 181974).
6. Ins. by Act 26 of 1974, s. 14 (w.e.f. 181974).
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1[2[296. Rules and certain notifications to be placed before Parliament.—The Central
Government shall cause every rule made under this Act , 3[the rules of procedure framed by the
Settlement Commission under sub-section (7) of section 245F, the Authority for Advance Rulings
under section 245V and the Appellate Tribunal under sub-section (5) of section 255] and 4[every
notification issued before the 1st day of June, 2007 under sub-clause (iv) of clause (23C) of
section 10] 5[and every notification issued under sub-section (1C) of section 139] 6[or third proviso to
sub-section (1) of section 153A or second proviso to sub-section (1) of section 153C] 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, however, that
any such modification or annulment shall be without prejudice to the validity of anything previously done
under that rule or notification.]]
297. Repeals and savings.—(1) The Indian Income-tax Act, 1922 (11 of 1922), is hereby repealed.
(2) Notwithstanding the repeal of the Indian Income-tax Act, 1922 (11 of 1922) (hereinafter referred
to as the repealed Act),—
(a) where a return of income has been filed before the commencement of this Act by any person
for any assessment year, proceedings for the assessment of that person for that year may be taken and
continued as if this Act had not been passed;
(b) where a return of income is filed after the commencement of this Act otherwise than in
pursuance of a notice under section 34 of the repealed Act by any person for the assessment year
ending on the 31st day of March, 1962, or any earlier year, the assessment of that person for that year
shall be made in accordance with the procedure specified in this Act;
(c) any proceeding pending on the commencement of this Act before any income-tax authority,
the Appellate Tribunal or any court, by way of appeal, reference, or revision, shall be continued and
disposed of as if this Act had not been passed;
(d) where in respect of any assessment year after the year ending on the 31st day of
March, 1940,—
(i) a notice under section 34 of the repealed Act had been issued before the commencement of
this Act, the proceedings in pursuance of such notice may be continued and disposed of as if this
Act had not been passed;
(ii) any income chargeable to tax had escaped assessment within the meaning of that
expression in section 147 and no proceedings under section 34 of the repealed Act in respect of
any such income are pending at the commencement of this Act, a notice under section 148 may,
subject to the provisions contained in section 149 or section 150, be issued with respect to that
assessment year and all the provisions of this Act shall apply accordingly;
(e) 7[subject to the provisions of clause (g) and clause (j) of this sub-section,] section 23A of the
repealed Act shall continue to have effect in relation to the assessment of any company or its
shareholders for the assessment year ending on the 31st day of March, 1962 or any earlier year, and
the provisions of the repealed Act shall apply to all matters arising out of such assessment as fully and
effectually as if this Act had not been passed;
1. Restored by Act 3 of 1989, s. 95 (w.e.f.11989). Earlier it was substituted by Act 4 of 1988, s. 122 (w.e.f. 11989).
of section 245F, the Authority for Advance Rulings
under section 245V and the Appellate Tribunal under sub-section
of section 255] and 4[every
notification issued before the 1st day of June, 2007 under sub-clause
of clause
of
section 10] 5[and every notification issued under sub-section
of section 139] 6[or third proviso to
sub-section
of section 153A or second proviso to sub-section
of section 153C] 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, however, that
any such modification or annulment shall be without prejudice to the validity of anything previously done
under that rule or notification.]]
297. Repeals and savings.—
The Indian Income-tax Act, 1922 (11 of 1922), is hereby repealed.
Notwithstanding the repeal of the Indian Income-tax Act, 1922 (11 of 1922) (hereinafter referred
to as the repealed Act),—
where a return of income has been filed before the commencement of this Act by any person
for any assessment year, proceedings for the assessment of that person for that year may be taken and
continued as if this Act had not been passed;
where a return of income is filed after the commencement of this Act otherwise than in
pursuance of a notice under section 34 of the repealed Act by any person for the assessment year
ending on the 31st day of March, 1962, or any earlier year, the assessment of that person for that year
shall be made in accordance with the procedure specified in this Act;
any proceeding pending on the commencement of this Act before any income-tax authority,
the Appellate Tribunal or any court, by way of appeal, reference, or revision, shall be continued and
disposed of as if this Act had not been passed;
where in respect of any assessment year after the year ending on the 31st day of
March, 1940,—
a notice under section 34 of the repealed Act had been issued before the commencement of
this Act, the proceedings in pursuance of such notice may be continued and disposed of as if this
Act had not been passed;
any income chargeable to tax had escaped assessment within the meaning of that
expression in section 147 and no proceedings under section 34 of the repealed Act in respect of
any such income are pending at the commencement of this Act, a notice under section 148 may,
subject to the provisions contained in section 149 or section 150, be issued with respect to that
assessment year and all the provisions of this Act shall apply accordingly;
7[subject to the provisions of clause
and clause
of this sub-section,] section 23A of the
repealed Act shall continue to have effect in relation to the assessment of any company or its
shareholders for the assessment year ending on the 31st day of March, 1962 or any earlier year, and
the provisions of the repealed Act shall apply to all matters arising out of such assessment as fully and
effectually as if this Act had not been passed;
1. Restored by Act 3 of 1989, s. 95 (w.e.f.11989). Earlier it was substituted by Act 4 of 1988, s. 122 (w.e.f. 11989).