Section 45 of Finance Act 2018
[Section 45 of Finance Act 2018 deals with Amendment of section 140. and is covered in CHAPTER III DIRECT TAXES]
Amendment of section 140.
45. In section 140 of the Income-tax Act, in clause (c), in the second proviso,—
|(A)||in clause (b), after the words “principal officer thereof;” occurring at the end, the word “or” shall be inserted;|
|(B)||after clause (b), the following shall be inserted, namely:—|
|‘(c)||where in respect of a company, an application for corporate insolvency resolution process has been admitted by the Adjudicating Authority under section 7 or section 9 or section 10 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the return shall be verified by the insolvency professional appointed by such Adjudicating Authority.|
|Explanation.—For the purposes of this clause the expressions “insolvency professional” and “Adjudicating Authority” shall have the respective meanings assigned to them in clause (18) of section 3 and clause (1) of section 5 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016);’.|