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<h1>Functions of Income-tax Settlement Commission Transferred to Interim Board Under Section 245G; Effective February 1, 2021.</h1> Section 245G of the Income-tax Act is amended to transfer the functions of the Settlement Commission to the Interim Board, effective from February 1, 2021. This change applies to sections 245DD, 245F, 245G, and 245H, allowing the Interim Board to exercise the powers and functions previously held by the Settlement Commission. The amendments are retroactive, applying from February 1, 2021, ensuring that all provisions applicable to the Settlement Commission now apply to the Interim Board in the same manner.