Amendment of section 221

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.... section 221 of the Income-tax Act, for sub-section (1), the following sub-section shall be substituted, namely: "(1) When an assessee is in default or is deemed to be in default in making a ....

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....ty does not exceed the amount of tax in arrears: Provided that before levying any such penalty, the assessee shall be given a reasonable opportunity of being heard: Provided further ....