CBDT has vide Notification No. 12/2020-Income Tax  revises definition of unauthorised colonies of NCT of Delhi for rule 11UAC read with Section Section 56(2)(x). Earlier CBDT has provided vide Notification No. 96/2019-Income Tax dated 11th November, 2019 that Section 56(2)(x)  not applies to specific immovable property transactions of specific unauthorised colonies of NCT of Delhi.

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

Notification No. 12/2020-Income Tax

New Delhi, the 17th February, 2020

G.S.R. 124(E).—In exercise of the powers conferred by clause (XI) of the proviso to clause (x) of sub-section (2) of section 56 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Government, hereby makes the following rules further to amend the Income-tax Rules,1962, namely:─

1. Short title and commencement.(1) These rules may be called the Income tax Amendment (6th Amendment), Rules, 2020.

(2) They shall come into force from the 1st day of April, 2020.

2. In the Income-tax Rules, 1962, in rule 11 UAC, in the Explanation, for clause (b), the following clause shall be substituted, namely:—

‘(b) ―unauthorised colony”shall have the same meaning as assigned to it in clause (b) of section 2 of the National Capital Territory of Delhi (Recognition of Property Rights of Residents in Unauthorised Colonies) Act, 2019 (45 of 2019)’.

[Notification No. 12/2020/F. No. 370142/29/2019-TPL]

GUDRUN NEHAR, Director
(Tax Policy and Legislation)

Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) vide number S.O. 969(E), dated the 26th March, 1962 and last amended vide notification number G.S.R. 112(E), Dated 13.02.2020.

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