MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION
New Delhi, the 13th October, 2021

INCOME-TAX

G.S.R. 737(E).—In exercise of the powers conferred by the first provisio to section 119 of Finance Act, 2012
(23 of 2012), the Central Board of Direct Taxes hereby makes the following rules, namely:-
1. Short title and commencement. (1) These rules may be called the Relaxation of Validation (section 119 of the
Finance Act, 2012) Rules, 2021.

(2) They shall come into force from the date of their publication in the Official Gazette.
2. Form and manner of furnishing undertaking under first proviso to section 119.- The form and manner of
furnishing undertaking under Explanation to fifth and sixth proviso to Explanation 5 to clause (i) of sub-section (1) of
section 9 of the Income-tax Act, 1961 (43 of 1961), as prescribed under sub-rule (1) and sub-rule (3) of rule 11UE and
rule 11UF of the Income-tax Rules, 1962, shall mutatis mutandis apply to clauses (i), (ii) and (iii) of the first proviso
to section 119 of the Finance Act, 2012 (23 of 2012).

3. Conditions under clause (iv) of first proviso to section 119.- The conditions for the purposes of clause (iv) of
the Explanation to fifth and sixth proviso to Explanation 5 to clause (i) of sub-section (1) of section 9 of the Income-
tax Act, 1961 (43 of 1961), as prescribed under sub-rule (2) of rule 11UE of the Income-tax Rules, 1962, shall mutatis
mutandis apply to clause (iv) of the first proviso to section 119 of the Finance Act, 2012 (23 of 2012).

[Notification No. 120/2021/ F. No. 370142/47/2021-TPL]
NEHA SAHAY, Under Secy. (Tax Policy and Legislation)

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