The Gazette of India
EXTRAORDINARY
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 436] NEW DELHI, MONDAY, OCTOBER 29, 1979/KARTlKA 7, 1901
Separate paging is given to this Part in order that it may be filed as a separate compilation
MINISTRY OF FINANCE (Central Board of Direct Taxes) NOTIFICATION
New Delhi, the 29th October, 1979 INCOME-TAX
S.O. 607(E).—-In exercise of the powers conferred by sec- tion 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 :—
1080 THE GA2ETTE OF INDIA • EXTRAORDINARY [PART II—SEC. 3(ii)] the Income-tax Rules, 1962, after rule 6AB, the following rule shall be inserted, namely :—'6ABA. For the purposes of clause (viia) of sub-section (j) of section 36, the aggregate average advances made by the rural brunches of a scheduled bank shall be computed in fhe following manner, namely:—
(a) the amounts of advances made by each rural branch as outstanding at the end of the last day of each month comprised in the previous year shall be aggregated separately ;
(b) the sum so arrived at in the. case of each such branch shall be divided by the number of month: for which thc outstanding advances have beer taken into account for the purposes of clause (a) ; (c) the aggregate of the sums so arrived at in rcspec of each of the rural branches shall be thc aggre- gate average advances made by the rural branches of the scheduled bank,
Kxplanation.—In this rule, "rural branch" and "scheduled bank." shall have the meanings assigned to them in the Explanation to clause (viia) of sub-section (1) of section 16.'
[No. 1046/F. No, 142(10)/79-TPL] S. N. SHENDE, Secy.