Direct Tax Notification No. 262 dated 16 October 2007

Income Tax Rules 1962 - Further Amendment
The CBDT introduced the Income-tax (Eleventh Amendment) Rules 2007 to further amend the Income tax Rules 1962. A new Rule 117C pertaining to Tax Recovery Officer to exercise or perform certain powers and functions of an Assessing Officer was inserted after Rule 117B. The amendment rules would come into force from the date of their publication in the Official Gazette.

Income-Tax (Eleventh Amendment) Rules 2007-Insertion of Rule 117C

In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules, further to amend the Income-tax Rules, 1962, namely:

1. (1) These rules may be called the Income-tax (Eleventh Amendment) Rules, 2007.

(2) They shall come into force from the date of their publication in the Official Gazette.

2. In the Income-tax Rules, 1962, after rule 117B, the following rule shall be inserted, namely:-

117C. Tax Recovery Officer to exercise or perform certain powers and functions of an Assessing Officer.- (1) The Chief Commissioner or the Commissioner, by general or special order in writing, may authorise a Tax Recovery Officer to exercise or perform the powers and functions conferred on or assigned to an Assessing Officer under section 154 for rectifying any mistake apparent from record in respect of an order passed by the Assessing Officer consequent to which a sum is payable and the Tax Recovery Officer has drawn a Certificate under section 222 in respect of such sum.

(2) The Tax Recovery Officer shall exercise or perform such powers and functions concurrently with the Assessing Officer.

F No. 142/20/2007-TPL