a) Ministry of Finance Income Tax notification no. 61/2020, dated 13-08-2020 have provided Securities Contracts (Regulation) (Second Amendment) Rules, 2020.
b) In exercise of the powers conferred by sub-section (3B) of section 143 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, published in the Gazette of India, Extraordinary, vide number S.O 3265 (E) dated the 12th September 2019, namely: —
In the said notification, —
(1) in the opening portion, for the word “E-assessment”, the words “Faceless Assessment” shall be substituted.
(2) for clause 1, the following clause shall be substituted, namely:—
“1. The provisions of clause (7A) of section 2, section 92CA, section 120, section 124, section 127, section 129, section 131, section 133, section 133A, section 133C, section 134, Chapter XIV, and Chapter XXI of the Act shall apply to the assessment made in accordance with the said Scheme subject to the exceptions, modifications and adaptations mentioned in the notification.
c) The assessment shall be made as per the procedure mentioned in the notification.
d) This notification shall come into force with effect from the date of its publication in the Official Gazette.
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