Section 53 - Amendment of section 22A

Commencement and conclusion of assessment proceedings deemed from notice issue to assessment date for cases from searches or requisitions.

Amendment to section 22A substitutes Explanation clause (iii) with a deeming provision that assessment or reassessment proceedings arising from a search under section 37A or requisition under section 37B shall be deemed to have commenced on the date of issue of the notice initiating such proceedings and concluded on the date on which the assessment is made; clause (iii) of the proviso is omitted and cross references in Explanation clause (iv) are adjusted accordingly.