Section 251

63.   Words "Deputy Commissioner (Appeals) or, as the case may be, the" omitted by the Finance (No. 2) Act, 1998, w.e.f. 1-10-1998. Earlier "Deputy Commissioner (Appeals)" was substituted for "Appellate Assistant Commissioner" by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988 and "or, as the case may be, the" was inserted by the Finance (No. 2) Act, 1977, w.e.f. 10-7-1978.

64.   Inserted by the Finance (No. 2) Act, 1977, w.e.f. 10-7-1978.

66.   For the meaning of the expression "annul the assessment", see Taxmann’s Direct Taxes Manual, Vol. 3.

67-68. The portion beginning with the words "or he may set aside" and ending with "on the basis of such fresh assessment" omitted by the Finance Act, 2001, w.e.f. 1-6-2001. Prior to its omission, the quoted portion, as amended by the Finance (No. 2) Act, 1977, w.e.f.10-7-1978, Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988 and the Finance (No. 2) Act, 1998, w.e.f. 1-10-1998, read as under :

        "or he may set aside the assessment and refer the case back to the Assessing Officer for making a fresh assessment in accordance with the directions given by the Commissioner (Appeals) and after making such further inquiry as may be necessary, and the Assessing Officer shall thereupon proceed to make such fresh assessment and determine, where necessary, the amount of tax payable on the basis of such fresh assessment."

69.   Words "Deputy Commissioner (Appeals) or, as the case may be, the" omitted by the Finance (No. 2) Act, 1998, w.e.f. 1-10-1998. Earlier "Deputy Commissioner (Appeals)" was substituted for "Appellate Assistant Commissioner" by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988 and "or, as the case may be, the" was inserted by the Finance (No. 2) Act, 1977, w.e.f. 10-7-1978.

70.   Inserted by the Finance (No. 2) Act, 1977, w.e.f. 10-7-1978.