{"act":{"id":"finance-act-2012","short_title":"The Finance Act, 2012","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2012-2013.","act_number":null,"act_year":2012,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":121,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2012/"},"unit":"section","section":{"number":"61","heading":"Amendment of section 143","text":"Amendment of section 143. 61. In section 143 of the Income-tax Act,— (a) after sub-section (1C), the following sub-section shall be inserted with effect from the 1st day of July, 2012, namely:— \"(1D) Notwithstanding anything contained in sub-section (1), the processing of a return shall not be necessary, where a notice has been issued to the assessee under sub-section (2).\"; (b) in sub-section (3), after the second proviso, the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2009, namely:— \"Provided also that notwithstanding anything contained in the first and the second proviso, no effect shall be given by the Assessing Officer to the provisions of clause (23C) of section 10 in the case of a trust or institution for a previous year, if the provisions of the first proviso to clause (15) of section 2 become applicable in the case of such person in such previous year, whether or not the approval granted to such trust or institution or notification issued in respect of such trust or institution has been withdrawn or rescinded.\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 143.</b></p><p><b>61.</b> In section 143 of the Income-tax Act,—</p><p>(<i>a</i>) after sub-section (1C)<i>, </i>the following sub-section shall be inserted with effect from the 1st day of July, 2012, namely:—</p><p>\"(1D) Notwithstanding anything contained in sub-section (1)<i>, </i>the processing of a return shall not be necessary, where a notice has been issued to the assessee under sub-section (2).\";</p><p>(<i>b</i>) in sub-section (3)<i>, </i>after the second proviso, the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2009, namely:—</p><p>\"<b>Provided also</b> that notwithstanding anything contained in the first and the second proviso, no effect shall be given by the Assessing Officer to the provisions of clause (<i>23C</i>) of section 10 in the case of a trust or institution for a previous year, if the provisions of the first proviso to clause (<i>15</i>) of section 2 become applicable in the case of such person in such previous year, whether or not the approval granted to such trust or institution or notification issued in respect of such trust or institution has been withdrawn or rescinded.\".</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":192,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2012/section/61/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}