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<h1>Landmark Gift-Tax Act Amendment Revamps Section 15, Enhancing Assessment Procedures and Taxpayer Notification Mechanisms</h1> The amendment modifies section 15 of the Gift-tax Act, effective from April 1, 1989. Key changes include requiring intimation to the assessee after adjustments, clarifying assessment procedures, and establishing provisions for tax payments and refunds related to regular assessments. The amendment also specifies how previous versions of the section apply to assessments for the 1988 assessment year and earlier.