Amendment of section 132B

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Full Text of the Document

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....(ii) in sub-section (4), in clause (b), for the words, figures and letters "under section 153A or under Chapter XIV-B", the words "or reassessment or recomputation" shall be substituted. - Clause 36 seeks to amend section 132B of the Income-tax Act relating to application of seized or requisitioned assets. Sub-section (1) of the said section provides the manner in which assets seized under sec....