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of <h1>Ministry of Finance Rescinds 2007 Tax Notification; Effective Retroactively from April 1, 2004, Nullifying Tax Benefits.</h1> Notification No. 78/2016, issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, rescinds Notification No. 229/2007 dated 21st August 2007. This rescission is effective from 1st April 2004, implying that the previous notification is considered as not having been issued for any tax benefits under the Income-tax Act, 1961 or any other applicable laws.
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