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of <h1>Finance Bill 2016 amends Income-tax Act Section 253, altering appeals on penalties for under-reporting/misreporting income.</h1> Clause 93 of the Finance Bill, 2016 proposes amendments to section 253 of the Income-tax Act, impacting appeals to the Appellate Tribunal. Effective April 1, 2017, it includes section 270A, allowing appeals against orders involving penalties for under-reporting and misreporting income. Sub-sections (2A) and (3A) are omitted, and sub-section (4) is revised, effective June 1, 2016, removing references to Dispute Resolution Panel directions. Additionally, no fees apply to appeals under sub-section (2A) as of July 1, 2012. These changes affect assessment year 2017-2018 onward.
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