« From the Courts » Open DEMAT Account in 24 hrs  Attachment on Cash Credit of Assessee under GST Act: Delhi HC directs Bank to Comply Instructions to Vacate  Income Tax Addition Made Towards Unsubstantiated Share Capital Is Eligible For Section 80-IC Deduction: Delhi High Court «  Capital gains vs Business income... Delhi High Court has recently delivered a judgement in the... » National Tax Tribunal (Amendment) Ordinance, 2007 February, 03rd 2007 No. 3 of 2007 Promulgated by the President in the Fifty-eighth Year of the Republic of India. An Ordinance to amend the National Tax Tribunal Act, 2005. Whereas Parliament is not in session and the President is satisfied that circumstances exist which render it necessary for him to take immediate action; NOW, Therefore, in exercise of the powers conferred by clause (1) of article 123 of the Constitution, the President is pleased to promulgate the following Ordinance: Short title and commencement. 1. (1) This Ordinance may be called the National Tax Tribunal (Amendment) Ordinance, 2007. (2) It shall come into force at once. Amendment of section 5. 2. In section 5 of the National Tax Tribunal Act, 2005 (49 of 2005) (hereinafter referred to as the principal Act), in sub-section (5), (i) the words "in consultation with the Chairperson" shall be omitted; (ii) the following proviso shall be inserted, namely:- "Provided that no Member shall be transferred without the concurrence of the Chairperson." Amendment of section 6. 3. In section 6 of the principal Act, in sub-section (2) in clause (b), for the words "seven years", the words "five years" shall be substituted. Amendment of section 13. 4. In section 13 of the principal Act, in sub-section (1), the words "or any person duly authorised by him or it" shall be omitted.