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of <h1>Finance Bill 2024 Amends Income-tax Act: Changes Appeal Filing Period and Adds Section on Interest and Penalty.</h1> Clause 78 of the Finance (No. 2) Bill, 2024, amends section 253 of the Income-tax Act, effective October 1, 2024. It inserts 'section 158BFA,' concerning interest and penalty, into sub-section (1), clause (a). Additionally, sub-section (3) is revised to extend the appeal filing period to two months from the end of the month when the order is communicated, replacing the previous sixty-day timeframe. These amendments pertain to appeals to the Appellate Tribunal by assessees or Principal Commissioners/Commissioners regarding specific orders.
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