Amendment of section 274.

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.... inserted and shall be deemed to have been inserted; (b) after sub-section (3), the following sub-sections shall be inserted and shall be deemed to have been inserted, namely:-- "(4) Notwithstanding anything contained in any other provision of this Act, where any draft of the proposed order of assessment under section 144C or assessment under section 143 or reassessment under section 1....

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....onstituting part of such order of assessment or reassessment.". - Clause 16 of the Bill seeks to amend section 274 of the Income-tax Act, 1961 relating to procedure. The said section prescribes the procedure for imposing penalties and mandates that no penalty shall be levied unless the assessee is given a reasonable opportunity of being heard. It requires the Assessing Officer to issu....