[Act 15 of 1940] [6th April, 1940] An Act to impose a tax on excess profits arising out of certain businesses. Whereas it is expedient to impose a tax on excess profits arising out of certain businesses in the conditions prevailing during the present hostilities; It is hereby enacted as follows:--

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S.1 Short title, extent and common cement.--

S.2 Definitions.--

S.3 Excess profits tax authorities.--

S.4 Charge of tax.--

S.5 Application of Act and XI of 1922.--

S.6 Standard profits.--

S.7 Relief on occurrence of deficiency of profits.--

S.8 Successions and amalgamations.--

S.9 Inter-connected companies.--

S.10 Artificial transactions.--

S.11 Relief in respect of double excess profits taxation.--

S.12 Allowance of excess profits tax in computing Income for Income-tax purposes.--

S.13 Issue of notice for assessment.--

S.14 Assessments.--

S.15 Profits escaping assessment.--

S.16 Penalties.--

S.17 Appeals.--

S.18 Appeal to Commissioner against Appellate Assistant Commissioner's orders, imposing penalties of enhancing assessments or penalties.--

S.19 Power of revision.--

S.20 Rectification of mistakes.--

S.21 Application of provisions of Act XI of VII of 1932 and XI of 1922. --

S.22 Income-tax Papers to be available for the purposes of this Act and XI of 1922.--

S.23 Failure to deliver returns or statements.--

S.24 False statement and declaration.--

S.25 Institution of Proceedings and composition of offences.--

S.26 Power of Central Board of Revenue to grant relief in special cases.--

S.27 Power to make rules.--

S.28

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