- In section 245N of the Income-tax Act,-(i)in clause (a),-(I)sub-clause (iv) shall be omitted;(II)after sub-clause (iii), the following sub-clause shall be inserted with effect from the 1st day of April, 2015, namely:-"(iv) a determination or decision by the Authority whether an arrangement, which is proposed to be undertaken by any person being a resident or a non-resident, is an impermissible avoidance arrangement as referred to in Chapter X-A or not:";(ii)in clause (b),-(I)sub-clause (iiia) shall be omitted;(II)in sub-clause (iii), for the word "or" occurring at the end, the word "and" shall be substituted;(III)in sub-clause (iii), for the word "and" occurring at the end, the word "or" shall be substituted with effect from the 1st day of April, 2015;(IV)after sub-clause (iii), the following sub-clause shall be inserted with effect from the 1st day of April, 2015, namely:-"(iii) is referred to in sub-clause (iv) of clause (a); and".
