Case law › Notifications › 2021 › Notification No. 93/2021 [F.No. 370142/34/2021-TPL(Part III)] / GSR 578(E)

Notification 18 August 2021

Notification No. 93/2021 [F.No. 370142/34/2021-TPL(Part III)] / GSR 578(E)

Ministry of Finance

What this is

Notification No. 93/2021 [F.No. 370142/34/2021-TPL(Part III)] / GSR 578(E) was published on 18 August 2021. Its subject is Ministry of Finance.

This amends the Income-tax Rules. What it changes is the Rules, not the Act — and a rule can never take away what the section gives.

What it does

The Income-tax (24th Amendment) Rules, 2021 insert two new rules in the Income-tax Rules, 1962. New rule 12AA, inserted after rule 12A, prescribes that for clause (c) or clause (cd) of section 140 the 'any other person' who may verify the return is the person appointed by the Adjudicating Authority to discharge the duties and functions of an interim resolution professional, a resolution professional or a liquidator under the Insolvency and Bankruptcy Code, 2016. New rule 51B, inserted after rule 51A, makes the same person the authorised representative for a company or a limited liability partnership for the purposes of clause (viii) of sub-section (2) of section 288. Both rules carry an Explanation giving 'Adjudicating Authority' the meaning assigned in clause (1) of section 5 of the Insolvency and Bankruptcy Code, 2016.

Who it reaches

Companies and limited liability partnerships under insolvency resolution or liquidation
Interim resolution professionals, resolution professionals and liquidators appointed under the Insolvency and Bankruptcy Code, 2016
Assessing officers and appellate authorities receiving returns or appearances in such cases
The National Company Law Tribunal as the Adjudicating Authority

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.

Under the 1961 Act	Now
s.5	s.5
s.140	s.265
s.288	s.515
s.295	s.533

The instrument, as the Board published it

The department publishes this one only as a PDF, so the words below were read out of that PDF by machine. That reading can carry its own mistakes — a misread number, a broken line. Check the signed document before you rely on a figure in it.

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 18th August, 2021
G.S.R. 578(E).—In exercise of the powers conferred by clause (c) and clause (cd) of section 140 and clause (viii) of sub-section (2) of section 288 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend Income-tax Rules, 1962, namely:-

1. Short title. - These rules may be called the Income-tax (24th Amendment) Rules, 2021.

2. In the Income-tax Rules, 1962 (hereinafter referred to as principal rules), after rule 12A, the following rule shall be inserted, namely:–

"12AA. Prescribed person for the purposes of clause (c) and clause (cd) of section 140.- For the purpose of clause (c) or clause (cd), as the case may be, of section 140, any other person shall be the person, appointed by the Adjudicating Authority for discharging the duties and functions of an interim resolution professional, a resolution professional, or a liquidator, as the case may be, under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) and the rules and regulations made thereunder.

Explanation.– For the purposes of this rule, "Adjudicating Authority" shall have the same meaning as assigned to it in clause (1) of section 5 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016).".

3. In the principal rules, after rule 51A, the following rule shall be inserted, namely:–

"51B. Appearance by Authorised Representative in certain cases.- For the purposes of clause (viii) of sub-section (2) of section 288, any other person, in respect of a company or a limited liability partnership, as the case may be, shall be the person appointed by the Adjudicating Authority for discharging the duties and functions of an interim resolution professional, a resolution professional, or a liquidator, as the case may be, under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) and the rules and regulations made thereunder.

Explanation.– For the purposes of this rule "Adjudicating Authority" shall have the same meaning as assigned to it in clause (1) of section 5 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016).".

[Notification No. 93/2021/F.No. 370142/34/2021-TPL(Part III)]
SHEFALI SINGH, Under Secy., Tax Policy and Legislation

Note: The principal rules were published in the Gazette of India, Extraordinary, Part-II Section-3, SubSection (ii) vide number S.O. 969(E) dated the 26th March, 1962 and were last amended vide notification No. G.S.R. 551(E), dated the 10th August, 2021.

Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

What it changes

The rule numbers are the 1962 Rules’ own, as the notification names them. The right-hand column is the department’s own mapping into the Income-tax Rules, 2026, which renumbered nearly everything.

Rule of the 1962 Rules	Now, in the 2026 Rules
Rule 12AA	rule 168
Rule 51B	rule 254

From when

Not stated in the extract.

What to watch

The notification states a short title but the extract carries no separate commencement clause.
Rule 12AA settles who may verify the return of a corporate debtor once management has vested in an insolvency professional.
Rule 51B lets the same professional appear as authorised representative without any separate qualification under section 288(2).
The definition of Adjudicating Authority is taken wholly from clause (1) of section 5 of the Insolvency and Bankruptcy Code, 2016.

Where you meet it

In the verification page of a return filed for a company or limited liability partnership under insolvency, and in appearances before the assessing officer or appellate authority in such a case.

What it names

Rules it names. Rule 12A, 51A of the Income-tax Rules, 1962. The 1962 Rules were replaced by the Income-tax Rules, 2026, which renumbered nearly everything: a rule number quoted here almost never means the same rule today.

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

Notification No. 13/2024 [F.No. C-14011/41/2018-V&L] / SO 312(E) — Ministry of Finance 19 January 2024
Notification No. 12/2024 [F.No. C-14011/46/2018-V&L] / SO 311(E) — Ministry of Finance 19 January 2024
Circular No. 22/2022 — Condonation of delay under section 119 2 b of the income tax act 1961 in filing of form no.10a 1 November 2022
Circular No. 3/2021 — Circular under section 10 of the direct tax vivad se vishwas act 2020 4 March 2021
Circular No. 21/2020 — Clarifications on provisions of the direct tax vivad se vishwas act 2020 4 December 2020
Circular No. 18/2020 — Clarifications in respect of the Direct Tax Vivad se Vishwas Act, 2020 28 October 2020

← Notification No. 94/2021 [F.No.IT(A)/01/2020-TPL (Part-I)-(Part- I)] / S.O. 3536(E) · Notification No. 92/2021 [F. No.370142/21/2021-TPL (Part)] / GSR 551(E) →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.