Threshold increase under section 255 raises the monetary limit for the specified income-tax provision and compliance. Amendment substitutes the words 'twenty-five thousand rupees' with 'forty thousand rupees' in subsection (3) of section 255 of the Income-tax Act, effecting a raise in the statutory monetary threshold under that provision by the Taxation Laws (Amendment) Act, 1970.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Threshold increase under section 255 raises the monetary limit for the specified income-tax provision and compliance.
Amendment substitutes the words "twenty-five thousand rupees" with "forty thousand rupees" in subsection (3) of section 255 of the Income-tax Act, effecting a raise in the statutory monetary threshold under that provision by the Taxation Laws (Amendment) Act, 1970.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.