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of <h1>Income-tax Act Section 220 Amended: New Sub-section (1A) Validates Demand Notice Until Final Resolution, Modifies Interest Provisions.</h1> Section 220 of the Income-tax Act is amended effective October 1, 2014. A new sub-section (1A) is introduced, stating that a notice of demand remains valid until the appeal or proceeding is resolved by the final authority. This notice carries the effects specified in the Taxation Laws (Continuation and Validation of Recovery Proceedings) Act, 1964. Additionally, sub-section (2) is modified to include a proviso that requires an assessee to pay interest if the amount on which interest was initially reduced is later increased. The wording in the second proviso is also adjusted.
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