India - Income Tax Act 2010 - Saarc

S. 155 I.T. ACT, 1961 1.698and subsequently such income or part thereof has been or is received in, orbrought into, India in the manner aforesaid, the Assessing Officer shall amendthe order of assessment so as to allow deduction under section 80HHB or section80HHC or section 80HHD or section 80HHE or section 80-O or section 80R orsection 80RR or section 80RRA, as the case may be, in respect of such incomeor part thereof as is so received in, or brought into, India; and the provisions ofsection 154 shall, so far as may be, apply thereto, and the period of four years shallbe reckoned from the end of the previous year in which such income is soreceived in, or brought into, India.]54[(14) Where in the assessment for any previous year or in any intimation ordeemed intimation under sub-section (1) of section 143 for any previous year,55[credit for tax deducted or collected in accordance with the provisions ofsection 199 or, as the case may be, section 206C] has not been given on the groundthat the certificate furnished under section 203 56 [or section 206C] was not filedwith the return and subsequently such certificate is produced before theAssessing Officer within two years from the end of the assessment year in whichsuch income is assessable, the Assessing Officer shall amend the order ofassessment or any intimation or deemed intimation under sub-section (1) ofsection 143, as the case may be, and the provisions of section 154 shall, so far asmay be, apply thereto :Provided that nothing contained in this sub-section shall apply unless theincome from which the tax has been deducted 56 [or income on which the tax hasbeen collected] has been disclosed in the return of income filed by the assesseefor the relevant assessment year.(15) Where in the assessment for any year, a capital gain arising from the transferof a capital asset, being land or building or both, is computed by taking the fullvalue of the consideration received or accruing as a result of the transfer to bethe value adopted or assessed by any authority of a State Government for thepurpose of payment of stamp duty in accordance with sub-section (1) of section50C, and subsequently such value is revised in any appeal or revision or referencereferred to in clause (b) of sub-section (2) of that section, the Assessing Officershall amend the order of assessment so as to compute the capital gain by takingthe full value of the consideration to be the value as so revised in such appeal orrevision or reference; and the provisions of section 154 shall, so far as may be,apply thereto, and the period of four years shall be reckoned from the end of theprevious year in which the order revising the value was passed in that appeal orrevision or reference.]57[(16) Where in the assessment for any year, a capital gain arising from thetransfer of a capital asset, being a transfer by way of compulsory acquisition54. Sub-sections (14) and (15) inserted by the Finance Act, 2002, w.e.f. 1-6-2002.55. Substituted for “credit for tax deducted in accordance with the provisions of section 199”by the Finance Act, 2006, w.e.f. 1-4-2007.56. Inserted, ibid.57. Sub-sections (16) and (17) inserted by the Finance Act, 2003, w.e.f. 1-4-2004.