Amendment status not verified — confirm the current text below against the official source.
74 of 1956. PART III] THE KOLKATA GAZE1 1 h, EXTRAORDINARY, MARCH 24, 2015 5 The West Bengal Finance Act, 2015. (Section 7.) (2) in section 4, in sub-section (1),— (a) for the words "in respect of any period", the words, figures and letters "in respect of any period ending on or before the 31st day of March, 2010" shall be substituted; (b) for the words, figures and letters "an appeal or revision relating thereto is pending on the 31st day of March, 2008", the words, figures and letters "an appeal or revision relating thereto is pending on the 31st day of January, 2015" shall be substituted; (3) in section 4A, in sub-section (1), for the words, figures and letters "on the 31st day of March, 2008", the words, figures and letters "on the 31st day of January, 2015" shall be substituted; (4) in section 5, in sub-section (1),— (a) in clause (a), for the words, figures and letters "the 31st day of March, 2009", the words, figures and letters "the 31st day of July, 2015" shall be substituted; (b) in clause (b), for the words, figures and letters "the 31st day of March, 2009", the words, figures and letters "the 31st day of July, 2015" shall be substituted; (5) in section 7, in sub-section (1),— (a) for clause (a), the following clause shall be substituted:— "(a) where the dispute relates — (i) to any arrear tax in dispute which is solely owing to non- furnishing or non-production of any certificate or declaration prescribed under the relevant Act and the applicant is in possession of such certificate or declaration on the date of making an application under this Act in respect of a portion of such arrear tax in dispute, at the rate of hundred per centum of the remaining balance amount of arrear tax in dispute, or the actual amount paid in respect of such arrear tax in dispute, whichever is higher; (ii) to any arrear tax in dispute, at the rate of fifteen per centum of the arrear tax in dispute or the actual amount paid in respect of such arrear tax in dispute, whichever is higher, if such dispute is owing to disallowance of any claim of input tax credit under the relevant Act for the relevant period; (iii) to any other arrear tax in dispute not covered in any of the above-mentioned sub-clauses, at the rate of fifty-five per centum of the arrear tax in dispute or the actual amount paid in respect of such arrear tax in dispute, whichever is higher;"; (b) for clause (b), the following clause shall be substituted:— "(b) where the dispute relates to any arrear interest in dispute for non-payment of any arrear tax in dispute and an application has been made under this Act in respect of such arrear tax in dispute, by waiving the arrear interest in dispute."; 6 THE KOLKATA GAZE 11'E, EXTRAORDINARY, MARCH 24, 2015 [PART III The West Bengal Finance Act, 2015. (Section 8.) (6) to sub-section (1), the following Explanations shall be added:— `Explanation I.—The "remaining balance amount of arrear tax in dispute" referred to in sub-clause (i) of clause (a), shall mean that part of arrear tax in dispute, which remains after deduction therefrom the amount of tax in dispute related to such certificate or declaration for non-furnishing or non-production of which that tax was assessed to be payable and where the applicant furnishes satisfactory evidence of receipt and possession of such certificate or declaration on the date of making an application under this Act and where the relevant claim under the relevant Act is otherwise allowable on the basis of such furnished certificate or declaration. Explanation II. Where an application under this Act for settlement of tax in dispute covers cases under clause (a), the amount payable for settlement of tax in dispute shall be the sum total of the amounts arrived at in accordance with the provisions of clause (a), determined separately in respect of each case of arrear tax in dispute covered thereunder.'. Amendment of West Ben. Act XXXVII of