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The Finance (1971–1972) Order, 1972 (President's Order)

First ScheduleRates of Estate Duty

In force
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First Schedule

“SCHEDULE [See Section 4] Rates of Estate Duty (b) the rates of super-tax shall, for the purposes of section 55 of the Income-tax Act, 1922 (XI of 1922), be those specified in Part II of the Third Schedule. (2) In making any assessment for the year beginning on the first day of July, 1971,- (a) Where the total income of a company includes any profits and gains from life insurance business, the super-tax payable by the company shall be reduced by an amount equal to 12.5 per cent of that part of its total income which consists of such inclusion; 1 [* * *] (b) Where the total income of an assessee, not being a company, includes any profits and gains from life insurance business, the income-tax and super-tax payable by the assessee on that part of his total income 1 [which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income] according to rates applicable under the operation of the Finance Act, 1942 (XII of 1942), the same proportion as the amount such inclusion bears to his total income so however that the aggregate of the taxes, so computed in respect of such inclusion shall not, in any case, exceed the amount of tax payable on such inclusion at the rate of 30 per cent 2 [; and] 3 [(c) Where the total income of an assessee, not being a company, includes any income chargeable under the head “Salaries”, the tax payable by the assessee on that part of his total income which consists of such inclusion shall be an amount bearing to the total amount of tax as would have been payable by him had the Finance (1971-72) Order, 1972 (P.O. No. 52) not come into force, on his total income the same proportion as the amount of such inclusion bears to his total income.] (3) In making any assessment for the year beginning on the first day of July, 1971, where the assessee is a co-operative society, the tax shall be payable at the rates specified in paragraph A of Part I, or paragraph B of Part I and paragraph A of Part II of the Third Schedule as if the assessee were a company to which the proviso to sub-paragraph (1) of paragraph A of the said Part II applied, whichever treatment is more beneficial to the assessee: Provided that in calculating for the purposes of this subsection, the amount of income-tax at the rates specified in paragraph A of Part I of the Third Schedule, no deduction in respect of any allowance or sums referred to in clause (i) of the proviso to the said paragraph shall be made. (4) (a) In making any assessment for the year beginning on the first day of July, 1971, where the total income of an assessee, not being a company to which the proviso to sub-paragraph (1) of paragraph A of Part II of the Third Schedule does not apply, includes any profits and gains derived from the export of goods out of taxable territories, income-tax and super-tax, if any, payable by him in respect of such profits and gains shall, subject to the provisions of clauses (b) and (c), be reduced by and amount computed in the manner specified hereunder:- Amount (i) Where the goods exported 15 per cent of the income-tax abroad had not been manufactured and super-tax, if any, by the assessee who exported attributable to export sales. them- (a) and where the export sales plus an additional 1 per cent during the relevant year for every increase of 10 per exceed the export sales of the cent in export sales over those preceding year. of the preceding year, subject to an overall maximum of 25 per cent (b) and where the export sales minus 1 per cent for every during the relevant year do decrease of 10 per cent in not exceed the export sales of export sales over those of the the preceding year. preceding year, subject to an overall minimum of 10 per cent (ii) Where the goods exported had been manufactured by the assessee who had exported who had exported 1 [then] (a) Where the export sales do not Nil. exceed 10 per cent of the total sales. Amount (b) Where the export sales exceed 15 per cent of the income-tax 10 per cent but do not exceed and super-tax, if any, 20 per cent of the total sales. attributable to export sales. (c) Where the export sales exceed 20 per cent of the income-tax 20 per cent but do not exceed and super-tax, of any, 30 per cent of the total sales. attributable to export sales. (d) Where the export sales exceed 25 per cent of the income-tax 30 per cent of the total sales. and super-tax, if any, attributable to export sales. Provided that in the case of a registered firm super-tax payable by it under paragraph C of Part II of the Third Schedule shall be reduced under this clause by an amount calculated on the basis of the income-tax payable on its total income under paragraph A of part I had it been the total income of an unregistered firm; 1 [(B) for the Third Schedule, the schedule set out in the Third Schedule to this Order shall be substituted.] (5) In case to which section 17 of the Income-tax Act, 1922 (XI of 1922) applies, the tax chargeable shall be determined as provided in that section, but with reference to the rates imposed by sub-section (1), and in accordance, where applicable, with the provisions of sub-section (2). (6) For the purposes of making deduction of tax under section 18, the rates specified in Part I and Part II of the Third Schedule shall apply as respects the year beginning on the first day of July, 1971, and ending on the thirtieth day of June, 1972. (7) For the purposes of this section and of the rates of tax imposed thereby, the expression “total income” means total income as determined for the purposes of income-tax or super-tax, as the case may be, in accordance with the provisions of the Income-tax Act, 1922 (XI of 1922); and the expression “public company” means a company- (i) in which not less than fifty per cent of the shares are held by the Government; or (ii) whose shares were the subject of dealings in a registered stock exchange in taxable territories at any time during the previous year and remained listed on the stock exchange till the close of that year. (8) In this section, “taxable territories” has the same meaning assigned to that expression by clause (14AA) of section 2 of the Income tax Act. 1922.”; (B) after section 10, the following new sections shall be added, namely:- “10A(1) Any order passed by the Income-tax Appellate Tribunal on or after the first day of July, 1971 and before the commencement of this Order, in appeals directly filed before it against the orders of the Incometax Officers, Sales tax Officers, Wealth-tax Officers and Gift-tax Officers, are hereby declared null and void. (2) Appeals directly filed before the Income-tax Appellate Tribunal against the order of the Income-tax Officers, Sales-tax Officers, Gift-tax Officers and Wealth-tax Officers during the period from the first day of July, 1971, to the date of commencement of this Order shall stand transferred to the respective Appellate Assistant Commissioners of Income-tax, Sales-tax, Gift-tax and Wealth-tax, as the case may be.

  1. 1 Clause (c) was substituted by Article 5 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  2. 1 The word “same” was inserted by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  3. 1 The word “in” was substituted for the word “and” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  4. 1 The word “are” was substituted for the word “was” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  5. 1 The words “any such application” were substituted for the words “any application” by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  6. 2 The heading “Amendment of Act XV of 1963” was substituted for the heading “Amendment of Act IV of 1963” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  7. 3 Clause (1) was substituted by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  8. 1 The word “of” was substituted for the word “or” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  9. 2 The bracket and figure “(1)” was substituted for the bracket and figure “(i)” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  10. 1 The word “and” was omitted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  11. 1 The words “which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income” were inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  12. 2 The semi-colon (;) was substituted for the full stop (.) and the word “and” was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  13. 3 Clause (c) was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  14. 1 The words “then” was substituted for the word “them” by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  15. 1 Paragraph (B) was substituted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).

First Schedule, item 1

1. Where the principal value of the Nil estate does not exceed Taka 1,00,000.

  1. 1 Clause (c) was substituted by Article 5 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  2. 1 The word “same” was inserted by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  3. 1 The word “in” was substituted for the word “and” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  4. 1 The word “are” was substituted for the word “was” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  5. 1 The words “any such application” were substituted for the words “any application” by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  6. 2 The heading “Amendment of Act XV of 1963” was substituted for the heading “Amendment of Act IV of 1963” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  7. 3 Clause (1) was substituted by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  8. 1 The word “of” was substituted for the word “or” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  9. 2 The bracket and figure “(1)” was substituted for the bracket and figure “(i)” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  10. 1 The word “and” was omitted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  11. 1 The words “which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income” were inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  12. 2 The semi-colon (;) was substituted for the full stop (.) and the word “and” was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  13. 3 Clause (c) was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  14. 1 The words “then” was substituted for the word “them” by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  15. 1 Paragraph (B) was substituted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).

First Schedule, item 2

2. Where the principal value of the 12½ per cent of the amount estate exceeds Taka 1,00,000 but exceeding Taka 1,00,000. does not exceed Taka 2,00,000.

  1. 1 Clause (c) was substituted by Article 5 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  2. 1 The word “same” was inserted by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  3. 1 The word “in” was substituted for the word “and” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  4. 1 The word “are” was substituted for the word “was” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  5. 1 The words “any such application” were substituted for the words “any application” by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  6. 2 The heading “Amendment of Act XV of 1963” was substituted for the heading “Amendment of Act IV of 1963” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  7. 3 Clause (1) was substituted by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  8. 1 The word “of” was substituted for the word “or” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  9. 2 The bracket and figure “(1)” was substituted for the bracket and figure “(i)” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  10. 1 The word “and” was omitted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  11. 1 The words “which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income” were inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  12. 2 The semi-colon (;) was substituted for the full stop (.) and the word “and” was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  13. 3 Clause (c) was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  14. 1 The words “then” was substituted for the word “them” by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  15. 1 Paragraph (B) was substituted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).

First Schedule, item 3

3. Where the principal value of the Taka 12,500 plus 17½ per estate exceeds Taka 2,00,000 but cent of the amount does not Taka 3,00,000. exceeding Taka 2,00,000.

  1. 1 Clause (c) was substituted by Article 5 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  2. 1 The word “same” was inserted by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  3. 1 The word “in” was substituted for the word “and” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  4. 1 The word “are” was substituted for the word “was” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  5. 1 The words “any such application” were substituted for the words “any application” by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  6. 2 The heading “Amendment of Act XV of 1963” was substituted for the heading “Amendment of Act IV of 1963” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  7. 3 Clause (1) was substituted by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  8. 1 The word “of” was substituted for the word “or” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  9. 2 The bracket and figure “(1)” was substituted for the bracket and figure “(i)” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  10. 1 The word “and” was omitted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  11. 1 The words “which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income” were inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  12. 2 The semi-colon (;) was substituted for the full stop (.) and the word “and” was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  13. 3 Clause (c) was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  14. 1 The words “then” was substituted for the word “them” by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  15. 1 Paragraph (B) was substituted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).

First Schedule, item 4

4. Where the principal value of the Taka 30,000 plus 20 per estate exceeds Taka 3,00,000 but cent of the amount does not exceed Taka 4,00,000. exceeding Taka 3,00,000.

  1. 1 Clause (c) was substituted by Article 5 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  2. 1 The word “same” was inserted by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  3. 1 The word “in” was substituted for the word “and” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  4. 1 The word “are” was substituted for the word “was” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  5. 1 The words “any such application” were substituted for the words “any application” by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  6. 2 The heading “Amendment of Act XV of 1963” was substituted for the heading “Amendment of Act IV of 1963” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  7. 3 Clause (1) was substituted by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  8. 1 The word “of” was substituted for the word “or” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  9. 2 The bracket and figure “(1)” was substituted for the bracket and figure “(i)” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  10. 1 The word “and” was omitted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  11. 1 The words “which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income” were inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  12. 2 The semi-colon (;) was substituted for the full stop (.) and the word “and” was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  13. 3 Clause (c) was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  14. 1 The words “then” was substituted for the word “them” by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  15. 1 Paragraph (B) was substituted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).

First Schedule, item 5

5. Where the principal value of the Taka 50,000 plus 22½ per estate exceeds Taka 4,00,000 but cent of the amount does not exceed Taka 5,00,000. exceeding Taka 4,00,000.

  1. 1 Clause (c) was substituted by Article 5 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  2. 1 The word “same” was inserted by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  3. 1 The word “in” was substituted for the word “and” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  4. 1 The word “are” was substituted for the word “was” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  5. 1 The words “any such application” were substituted for the words “any application” by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  6. 2 The heading “Amendment of Act XV of 1963” was substituted for the heading “Amendment of Act IV of 1963” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  7. 3 Clause (1) was substituted by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  8. 1 The word “of” was substituted for the word “or” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  9. 2 The bracket and figure “(1)” was substituted for the bracket and figure “(i)” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  10. 1 The word “and” was omitted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  11. 1 The words “which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income” were inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  12. 2 The semi-colon (;) was substituted for the full stop (.) and the word “and” was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  13. 3 Clause (c) was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  14. 1 The words “then” was substituted for the word “them” by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  15. 1 Paragraph (B) was substituted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).

First Schedule, item 6

6. Where the principal value of the Taka 72,500 plus 25 per estate exceeds Taka 5,00,000 but cent of the amount does not exceed Taka 6,00,000. exceeding Taka 5,00,000.

  1. 1 Clause (c) was substituted by Article 5 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  2. 1 The word “same” was inserted by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  3. 1 The word “in” was substituted for the word “and” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  4. 1 The word “are” was substituted for the word “was” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  5. 1 The words “any such application” were substituted for the words “any application” by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  6. 2 The heading “Amendment of Act XV of 1963” was substituted for the heading “Amendment of Act IV of 1963” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  7. 3 Clause (1) was substituted by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  8. 1 The word “of” was substituted for the word “or” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  9. 2 The bracket and figure “(1)” was substituted for the bracket and figure “(i)” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  10. 1 The word “and” was omitted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  11. 1 The words “which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income” were inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  12. 2 The semi-colon (;) was substituted for the full stop (.) and the word “and” was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  13. 3 Clause (c) was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  14. 1 The words “then” was substituted for the word “them” by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  15. 1 Paragraph (B) was substituted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).

First Schedule, item 7

7. Where the principal value of the Taka 97,500 plus 30 per estate exceeds Taka 6,00,000 but cent of the amount does not exceed Taka 7,00,000. exceeding Taka 6,00,000.

  1. 1 Clause (c) was substituted by Article 5 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  2. 1 The word “same” was inserted by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  3. 1 The word “in” was substituted for the word “and” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  4. 1 The word “are” was substituted for the word “was” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  5. 1 The words “any such application” were substituted for the words “any application” by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  6. 2 The heading “Amendment of Act XV of 1963” was substituted for the heading “Amendment of Act IV of 1963” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  7. 3 Clause (1) was substituted by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  8. 1 The word “of” was substituted for the word “or” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  9. 2 The bracket and figure “(1)” was substituted for the bracket and figure “(i)” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  10. 1 The word “and” was omitted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  11. 1 The words “which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income” were inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  12. 2 The semi-colon (;) was substituted for the full stop (.) and the word “and” was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  13. 3 Clause (c) was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  14. 1 The words “then” was substituted for the word “them” by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  15. 1 Paragraph (B) was substituted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).

First Schedule, item 8

8. Where the principal value of the Taka 1,27,500 plus 35 per estate exceeds Taka 7,00,000 but cent of the amount does not exceed Taka 10,00,000. exceeding Taka 7,00,000.

  1. 1 Clause (c) was substituted by Article 5 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  2. 1 The word “same” was inserted by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  3. 1 The word “in” was substituted for the word “and” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  4. 1 The word “are” was substituted for the word “was” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  5. 1 The words “any such application” were substituted for the words “any application” by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  6. 2 The heading “Amendment of Act XV of 1963” was substituted for the heading “Amendment of Act IV of 1963” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  7. 3 Clause (1) was substituted by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  8. 1 The word “of” was substituted for the word “or” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  9. 2 The bracket and figure “(1)” was substituted for the bracket and figure “(i)” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  10. 1 The word “and” was omitted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  11. 1 The words “which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income” were inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  12. 2 The semi-colon (;) was substituted for the full stop (.) and the word “and” was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  13. 3 Clause (c) was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  14. 1 The words “then” was substituted for the word “them” by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  15. 1 Paragraph (B) was substituted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).

First Schedule, item 9

9. Where the principal value of the Taka 2,32,500 plus 40 per estate exceeds Taka 10,00,000 but cent of the amount does not exceed Taka 15,00,000. exceeding Taka 10,00,000.

  1. 1 Clause (c) was substituted by Article 5 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  2. 1 The word “same” was inserted by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  3. 1 The word “in” was substituted for the word “and” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  4. 1 The word “are” was substituted for the word “was” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  5. 1 The words “any such application” were substituted for the words “any application” by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  6. 2 The heading “Amendment of Act XV of 1963” was substituted for the heading “Amendment of Act IV of 1963” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  7. 3 Clause (1) was substituted by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  8. 1 The word “of” was substituted for the word “or” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  9. 2 The bracket and figure “(1)” was substituted for the bracket and figure “(i)” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  10. 1 The word “and” was omitted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  11. 1 The words “which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income” were inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  12. 2 The semi-colon (;) was substituted for the full stop (.) and the word “and” was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  13. 3 Clause (c) was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  14. 1 The words “then” was substituted for the word “them” by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  15. 1 Paragraph (B) was substituted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).

First Schedule, item 10

10. Where the principal value of the Taka 4,32,500 plus 45 per estate exceeds Taka 15,00,000 but cent of the amount does not exceed Taka 25,00,000. exceeding Taka 15,00,000.

  1. 1 Clause (c) was substituted by Article 5 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  2. 1 The word “same” was inserted by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  3. 1 The word “in” was substituted for the word “and” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  4. 1 The word “are” was substituted for the word “was” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  5. 1 The words “any such application” were substituted for the words “any application” by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  6. 2 The heading “Amendment of Act XV of 1963” was substituted for the heading “Amendment of Act IV of 1963” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  7. 3 Clause (1) was substituted by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  8. 1 The word “of” was substituted for the word “or” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  9. 2 The bracket and figure “(1)” was substituted for the bracket and figure “(i)” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  10. 1 The word “and” was omitted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  11. 1 The words “which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income” were inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  12. 2 The semi-colon (;) was substituted for the full stop (.) and the word “and” was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  13. 3 Clause (c) was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  14. 1 The words “then” was substituted for the word “them” by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  15. 1 Paragraph (B) was substituted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).

First Schedule, item 11

11. Where the principal value of the Taka 8,82,500 plus 50 per estate exceeds Taka 25,00,000. cent of the amount exceeding Taka 25,00,000.” Amendment of 6. The following amendments shall be made in the Sales Act III of 1951 Tax Act, 1951 (III of 1951), namely:- (1) in section 2, after clause (18A), the following new clause shall be inserted and shall be deemed to have been so inserted with effect from the 26 th day of March, 1971, namely:- “(18AA) ‘taxable territories’ has the same meaning assigned to that expression by clause (14AA) of section 2 of Income-tax Act, 1922;”; (2) in section 17,- (a) for sub-sections (1), (2), (3) and (4) the following shall be substituted, namely:- “(1) Within sixty days of the date on which he is served with notice of an order under sub-section (6) of section 15, the assessee or the Commissioner may, by application in the prescribed form, accompanied, where the application is made by the assessee, by a fee o one hundred taka refer to the High Court any question of law arising out of such order. (2) An application under sub-section (1) shall be in triplicate and shall be accompanied by the following documents, and where any such document is in any language other than English also by a translation thereof in English, namely:- (a) Certified copy, in triplicate, of the order of the Appellate Tribunal out of which the question of law has arisen; (b) Certified copy, in triplicate, of the order of the Sales Tax Officer, the Inspecting Assistant Commissioner of Sales Tax, the Appellate Assistant Commissioner of Sales Tax, as the case may be, which was subjectmatter of appeal before the Appellate Tribunal; 1 [(c) Certified copy, in triplicate, of any other document the contents of which are relevant to the question of law formulated in the application and which was produced before the Sales Tax Officer, the Appellate Assistant Commissioner of Sales Tax, the Inspecting Assistant Commissioner of Sales Tax or the Appellate Tribunal, as the case may be, in the course of any proceedings relating to the order referred to in clause (a) or clause (b);] (3) Where the assessee is the applicant, the Commissioner shall be made a respondent and where the Commissioner is the applicant, the assessee shall be made a respondent : Provided that where an assessee dies or is adjudicated insolvent or is succeeded by another person or is a company which is being wound up, the application shall not abate and may, if the assessee was the applicant, be continued by, and if he was the respondent, be continued against, the executor, administrator or successor or other legal representative of the assessee, or by or against the liquidator or receiver, as the case may be. (4) On receipt of the notice of the date of hearing of the application the respondent shall, at least seven days before the date of hearing, submit in writing a reply to the application; and he shall therein specifically admit or deny whether the question or law formulated by the applicant arises out of the order of the Appellate Tribunal. If the question formulated by the applicant is, in the opinion of the respondent defective, the reply shall state in what particular the question is defective and what is the exact question of law, if any, which arises out of the said order; and the reply shall be in triplicate and be accompanied by any documents (along with a translation in English of such documents as are not in English) which are relevant to the question of law formulated in the application and which were produced before the Sales Tax Officer, the Inspecting Assistant Commissioner of Sales Tax, the Appellate Assistant Commissioner of Sales Tax, the Appellate Tribunal, as the case may be, in the course of any proceedings relating to any order referred to in clause (a) or clause (b) of sub-section (1).”; and (b) in sub-section (5), for the words “case stated” the words “such application” shall be substituted; (c) in sub-section (8), the comma, words, brackets and figures, “sub-section (2) or sub-section (3)” shall be omitted; and (d) after sub-section (8) amended as aforesaid, a new sub-section (9) shall be added, namely:- “(9) Any application made to the Appellate Tribunal or any question of law referred to the High Court by the Appellate Tribunal before the first day of July, 1971, shall be disposed of by the Appellate Tribunal or the High Court, as the case may be, as if the Finance (1971-72) Order, 1972, had not come into force.”; (3) in section 28, in sub-section (1), for the word “five” the word “six” shall be substituted. Amendment of 7. The following amendments shall be made in the Gift Tax Act XIV of Act, 1963 (XIV of 1963), namely:- 1963 (1) in section 2, after clause (XXIV), the following new clause shall be inserted and shall be deemed to have been so inserted with effect from the 26 th day of March, 1971, namely:- “(XXIVA) “taxable territories” has the 1 [same] meaning assigned to that expression by clause (14AA) of section 2 of Incometax Act, 1922;”; (2) after section 4, the following new section shall be added, namely:-

  1. 1 Clause (c) was substituted by Article 5 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  2. 1 The word “same” was inserted by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  3. 1 The word “in” was substituted for the word “and” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  4. 1 The word “are” was substituted for the word “was” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  5. 1 The words “any such application” were substituted for the words “any application” by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  6. 2 The heading “Amendment of Act XV of 1963” was substituted for the heading “Amendment of Act IV of 1963” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  7. 3 Clause (1) was substituted by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  8. 1 The word “of” was substituted for the word “or” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  9. 2 The bracket and figure “(1)” was substituted for the bracket and figure “(i)” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  10. 1 The word “and” was omitted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  11. 1 The words “which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income” were inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  12. 2 The semi-colon (;) was substituted for the full stop (.) and the word “and” was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  13. 3 Clause (c) was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  14. 1 The words “then” was substituted for the word “them” by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  15. 1 Paragraph (B) was substituted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).

First Schedule, item 4A

“4A. Gift to include increase in dower-Where the dower money, as originally fixed at the time of marriage is subsequently increased, the amount by which such increase exceeds the amount of the original dower shall, for the purposes of this Act, be deemed to be a gift made by the husband to the wife.”; (3) in section 5- (a) in sub-section (1), 1 [in] clause (vi), for the words “one lakh” the words “fifty thousand” shall be substituted; (b) in sub-section (2), for the word “ten” the word “five” shall be substituted; (4) in section 26- (a) for sub-section (1), (2), (3), (4) and (5) the following shall be substituted, namely:- “(1) Within ninety days of the date upon which he is served with an order under section 23 or section 25, the assessee or the Commissioner may present an application in the prescribed form and, where the application is made by the assessee, accompanied by a fee of one hundred taka, to the High Court referring any question of law arising out of such order. (2) An application under sub-section (1) may be admitted after the expiry of the period of ninety days aforesaid if the High Court is satisfied that there was sufficient cause for not presenting it within the said period. (3) An application under sub-section (1) shall be in triplicate and shall be accompanied by the following documents, and where any such documents is in any language, other than English, also by a translation thereof in English, namely:- (a) Certified copy, in triplicate, of the order of the Appellate Tribunal out of which the question of law has arisen; (b) Certified copy, in triplicate, of the order of the Gift-Tax Officer, the Appellate Assistant Commissioner of Gift-Tax, the Inspecting Assistant Commissioner of Gift-Tax, as the case may be, which was subject matter of appeal before the appellate Tribunal; and (c) Certified copy, is triplicate, of any other document, the contents of which 1 [are] relevant to the question of law formulated in the application and which was produced before the Gift-Tax Officer, the Appellate Assistant Commissioner of Gift-Tax, the Inspecting Assistant Commissioner of Gift-Tax or the Appellate Tribunal, as the case may be, in the course of any proceedings relating to any order referred to in clause (a) or clause (b). (4) Where the assessee is the applicant, the Commissioner shall be made a respondent and where the Commissioner is the applicant, the assessee shall be made a respondent: Provided that where an assessee dies or is adjudicated insolvent or is succeeded by another person or is a company which is being wound up, the application shall not abate and may, if the assessee was the applicant, be continued by, and if he was the respondent, be continued against, the executor, administrator or successor or other legal representative of the assessee, or by or against the liquidator or receiver, as the case may be. (5) On receipt of the notice of the date of hearing of the application, the respondent shall, at least seven days before the date of hearing submit in writing a reply to the application and he shall therein specifically admit or deny whether the question of law formulated by the applicant arises out of the order of the Appellate Tribunal. If the question formulated by the applicant is, in the opinion of the respondent, defective, the reply shall state in what particular the question is defective and what is the exact question of law, if any, which arises out of the said order; and the reply shall be in triplicate and be accompanied by any documents (along with a translation in English of such documents as are not in English) which are relevant to the question of law formulated in the application and which were produced before the Gift-Tax Officer, the Appellate Assistant Commissioner of Gift-Tax, the Inspecting Assistant Commissioner of Gift-Tax or the Appellate Tribunal, as the case may be, in the course of any proceedings relating to any order referred to in clause (a) or clauses (b) of sub-section (1).”; (b) in sub-section (6), for the words “any such case” the words “ 1 [any such application]” shall be substituted; and (c) after sub-section (9), the following new sub-section shall be added, namely:- “(10) Any application made to the Appellate Tribunal or any question of law referred to the High Court by the Appellate Tribunal before the first day of July, 1971, shall be disposed of by the Appellate Tribunal or the High Court, as the case may be, as if the Finance (1971-72) Order, 1972, had not come into force.”; 2 [Amendment

  1. 1 Clause (c) was substituted by Article 5 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  2. 1 The word “same” was inserted by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  3. 1 The word “in” was substituted for the word “and” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  4. 1 The word “are” was substituted for the word “was” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  5. 1 The words “any such application” were substituted for the words “any application” by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  6. 2 The heading “Amendment of Act XV of 1963” was substituted for the heading “Amendment of Act IV of 1963” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  7. 3 Clause (1) was substituted by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  8. 1 The word “of” was substituted for the word “or” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  9. 2 The bracket and figure “(1)” was substituted for the bracket and figure “(i)” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  10. 1 The word “and” was omitted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  11. 1 The words “which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income” were inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  12. 2 The semi-colon (;) was substituted for the full stop (.) and the word “and” was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  13. 3 Clause (c) was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  14. 1 The words “then” was substituted for the word “them” by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  15. 1 Paragraph (B) was substituted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).

First Schedule, item 8

8. The following amendments shall be made in the Wealth of Act XV of Tax Act, 1963 (XV of 1963), namely:- 1963] 3 [(1) in section 2, after clause (oo), the following new clause shall be inserted and shall be deemed to have been so inserted with effect from the 26 th day of March, 1971, namely:- “(ooo) “taxable territories” has the meaning assigned to that expression by clause (14AA) of section 2 of Income-tax Act, 1922;”]; (2) in section 27,- (a) for sub-section (1), (2), (3), (4) and (5) the following shall be substituted, namely:- “(1) Within ninety days of the date upon which is served with an order under section 24 or section 26, the assessee or the Commissioner may present an application the prescribed form and where the application is by the assessee, accompanied by a fee of one hundred taka, to the High Court referring any question of law arising out of such order. (2) An application under sub-section (1) may be admitted after the expiry of the period of ninety days aforesaid if the High Court is satisfied that there was sufficient cause for not presenting it within the said period. (3) An application under sub-section (1) shall be in triplicate and shall be accompanied by the following documents, and where any such document is in any language, other than English, also by a translation thereof in English, namely:- (a) Certified copy, in triplicate, of the order of the Appellate Tribunal out of which the question of law has arisen; (b) Certified copy, in triplicate, of the order of the Wealth-tax Officer, the Appellate Assistant Commissioner of Wealth-tax; or the Inspecting Assistant Commissioner of Wealth-tax, as the case may be, which was subject-matter of appeal before the Appellate Tribunal; and (c) Certified copy, in triplicate, of any other document, the contents of which are relevant to the question of law formulated in the application and which was produced before the Wealth-tax Officer, the Appellate Assistant Commissioner of Wealth-tax the Inspecting Assistant Commissioner of Wealth-tax or the Appellate Tribunal, as the case may be, in the course of any proceedings relating to any order referred to in clause (a) or clause (b). (4) Where the assessee is the applicant, the Commissioner shall be made a respondent and where the Commissioner is the applicant, the assessee shall be made a respondent: Provided that where an assessee dies or is adjudicated insolvent or is succeeded by another person or is a company which is being wound up, the application shall not abate and may, if the assessee was the applicant, be continued by, and if he was the respondent be continued against, the executor, administrator or successor of other legal representative of the assessee, or by or against the liquidator or receiver, as the case may be. (5) On receipt of the notice of the date of hearing of the application, the respondent shall, at least seven days before the date of hearing, submit in writing a reply to the application and he shall therein specifically admit or deny whether the question 1 [of] law formulated by the application arises out of the order of the Appellate Tribunal. If the question formulated by the applicant is, in the opinion of the respondent, defective, the reply shall state in what particular the question is defective and what is the exact question of law, if any, which arises out of the said order; and the reply shall be in triplicate and be accompanied by any documents (along with a translation in English of such documents as are not in English) which are relevant to the question of law formulated in the application and which were produced before the Wealth-tax Officer, the Appellate Assistant Commissioner of Wealth-tax, the Inspecting Assistant Commissioner of Wealth-tax or the Appellate Tribunal, as the case may be, in the course of any proceedings relation to any order referred to in clause (a) or clause (b) or sub-section 2 [(1)].”; and (b) in sub-section (6), for the words “any such case” the words “any such application” shall be substituted; (c) after sub-section (9), the following new sub-section shall be added, namely:- “(10) Any application made to the Appellate Tribunal or any question of law referred to the High Court by the Appellate Tribunal before the first day of July, 1971, shall be disposed of by the Appellate Tribunal or the High Court, as the case may be, as if the Finance (1971-72) Order, 1972, had not come into force.”; (3) in the Schedule, in paragraph (1), for items (i), (ii) and (iii) the following shall be substituted, namely:- “(i) on the first taka two lakhs of net wealth, or where an assessee, being a person owning and occupying a house for purposes of his own residence, exercises the option to have the value of such house being excluded from his assets, on the first taka one lakh of net wealth .............................. Nil. (ii) on the next taka two lakhs of net wealth..................... ½ per cent (iii) on the next take five lakhs of net wealth .. .. 1 per cent Amendment of 9. The following amendments shall be made in the Finance Ordinance XI of Ordinance, 1970 (XI of 1970), namely:- 1970 (A) for section 9 the following shall be substituted, namely:-

  1. 1 Clause (c) was substituted by Article 5 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  2. 1 The word “same” was inserted by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  3. 1 The word “in” was substituted for the word “and” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  4. 1 The word “are” was substituted for the word “was” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  5. 1 The words “any such application” were substituted for the words “any application” by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  6. 2 The heading “Amendment of Act XV of 1963” was substituted for the heading “Amendment of Act IV of 1963” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  7. 3 Clause (1) was substituted by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  8. 1 The word “of” was substituted for the word “or” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  9. 2 The bracket and figure “(1)” was substituted for the bracket and figure “(i)” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  10. 1 The word “and” was omitted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  11. 1 The words “which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income” were inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  12. 2 The semi-colon (;) was substituted for the full stop (.) and the word “and” was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  13. 3 Clause (c) was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  14. 1 The words “then” was substituted for the word “them” by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  15. 1 Paragraph (B) was substituted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).

First Schedule, item 9

“9. Income-tax and super-tax.-(1) Subject to the provisions of sub-section (2), (3), (4) and (5), in making any assessment for the year beginning on the first day of July, 1971,- (a) income-tax shall be charged at the rates specified in

  1. 1 Clause (c) was substituted by Article 5 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  2. 1 The word “same” was inserted by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  3. 1 The word “in” was substituted for the word “and” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  4. 1 The word “are” was substituted for the word “was” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  5. 1 The words “any such application” were substituted for the words “any application” by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  6. 2 The heading “Amendment of Act XV of 1963” was substituted for the heading “Amendment of Act IV of 1963” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  7. 3 Clause (1) was substituted by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  8. 1 The word “of” was substituted for the word “or” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  9. 2 The bracket and figure “(1)” was substituted for the bracket and figure “(i)” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  10. 1 The word “and” was omitted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  11. 1 The words “which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income” were inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  12. 2 The semi-colon (;) was substituted for the full stop (.) and the word “and” was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  13. 3 Clause (c) was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  14. 1 The words “then” was substituted for the word “them” by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  15. 1 Paragraph (B) was substituted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).

Part I of the Third Schedule; and

First Schedule, Part I, item 11

11. Any order passed by the Income-tax Officer, Gift-tax Officer and Wealth-tax Officer, in respect of the Assessment for 1971-72 and any order passed by the Sales-tax Officer for the financial year 1970-71 during the period from the 1 st day of July, 1971 to the date of commencement of this Order shall be deemed to have been passed under this Order.”; and (c) for the third schedule, the schedule set out in the Third Schedule to this Order shall be substituted.

  1. 1 Clause (c) was substituted by Article 5 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  2. 1 The word “same” was inserted by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  3. 1 The word “in” was substituted for the word “and” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  4. 1 The word “are” was substituted for the word “was” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  5. 1 The words “any such application” were substituted for the words “any application” by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  6. 2 The heading “Amendment of Act XV of 1963” was substituted for the heading “Amendment of Act IV of 1963” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  7. 3 Clause (1) was substituted by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  8. 1 The word “of” was substituted for the word “or” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  9. 2 The bracket and figure “(1)” was substituted for the bracket and figure “(i)” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  10. 1 The word “and” was omitted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  11. 1 The words “which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income” were inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  12. 2 The semi-colon (;) was substituted for the full stop (.) and the word “and” was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  13. 3 Clause (c) was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  14. 1 The words “then” was substituted for the word “them” by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  15. 1 Paragraph (B) was substituted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).

First Schedule, Part I, item 10

1 [10. Certain Orders of Income-tax Appellate Tribunal to be void.— Any order passed by the Income-tax Appellate Tribunal on or after the first day of July, 1971, and before the commencement of this Order, in appeals directly filed before it during that period against the orders of the Income-tax Officers, Sales-tax Officers, Gift-tax Officers and Wealth-tax Officers are hereby declared null and void and all such appeals together with other direct appeals filed before it against the orders of the Income-tax Officers, Sales-tax Officers, Sales-tax Officers, Gift-tax Officers and Wealth-tax Officers during that period and pending immediately before the commencement of this Order shall on such commencement, stand transferred to the respective Appellate Assistant Commissioners of Incometax, Sales-tax, Gift-tax and Wealth-tax concerned.

  1. 1 Clause (c) was substituted by Article 5 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  2. 1 The word “same” was inserted by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  3. 1 The word “in” was substituted for the word “and” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  4. 1 The word “are” was substituted for the word “was” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  5. 1 The words “any such application” were substituted for the words “any application” by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  6. 2 The heading “Amendment of Act XV of 1963” was substituted for the heading “Amendment of Act IV of 1963” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  7. 3 Clause (1) was substituted by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  8. 1 The word “of” was substituted for the word “or” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  9. 2 The bracket and figure “(1)” was substituted for the bracket and figure “(i)” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  10. 1 The word “and” was omitted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  11. 1 The words “which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income” were inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  12. 2 The semi-colon (;) was substituted for the full stop (.) and the word “and” was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  13. 3 Clause (c) was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  14. 1 The words “then” was substituted for the word “them” by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  15. 1 Paragraph (B) was substituted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).

First Schedule, Part I, item 11

11. Validation of certain orders of Income-tax Officers, etc.— Any order passed by an Income-tax Officer, Gift-tax Officer or Wealth-tax Officer in respect of the assessment of Income-tax, Gift-tax or Wealth-tax for the year 1971-72 and any order passed by a Sales-tax Officer in respect of the assessment of Sales-tax for the year 1970-71 during the period from the first day of July, 1971, to the date of commencement of this Order shall be deemed to have been passed under this Order.]

  1. 1 Clause (c) was substituted by Article 5 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  2. 1 The word “same” was inserted by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  3. 1 The word “in” was substituted for the word “and” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  4. 1 The word “are” was substituted for the word “was” by Article 6 of the Finance (1971- 72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  5. 1 The words “any such application” were substituted for the words “any application” by Article 6 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  6. 2 The heading “Amendment of Act XV of 1963” was substituted for the heading “Amendment of Act IV of 1963” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  7. 3 Clause (1) was substituted by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  8. 1 The word “of” was substituted for the word “or” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  9. 2 The bracket and figure “(1)” was substituted for the bracket and figure “(i)” by Article 7 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  10. 1 The word “and” was omitted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  11. 1 The words “which consists of such inclusion shall be an amount bearing to the total amount of such taxes payable on his total income” were inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  12. 2 The semi-colon (;) was substituted for the full stop (.) and the word “and” was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  13. 3 Clause (c) was inserted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  14. 1 The words “then” was substituted for the word “them” by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).
  15. 1 Paragraph (B) was substituted by Article 8 of the Finance (1971-72) (Amendment) Order, 1972 (President’s Order No. 75 of 1972).

End of First Schedule to First Schedule, Part I, item 11.

Read the contents: The Finance (1971–1972) Order, 1972 (President's Order)