{"act":{"id":"finance-act-2016","short_title":"The Finance Act, 2016","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2016-2017.","act_number":null,"act_year":2016,"enact_date":"2016-06-27","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":276,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2016/"},"unit":"section","section":{"number":"106","heading":"Amendment of section 273A","text":"Amendment of section 273A. 106. In section 273A of the Income-tax Act,— (i) | with effect from the 1st day of April, 2017,— (a) | in sub-section (1),— (I) | in clause (ii), after the words \"or imposable on a person under\", the words, figures and letter \"section 270A or\" shall be inserted; (II) | in the Explanation, after the words \"as not to attract the provisions of\", the words, figures and letter \"section 270A or\" shall be inserted; (b) | in sub-section (2), in clause (b), after the words \"if in a case falling under\", the words, figures and letter \"section 270A or\" shall be inserted; (ii) | after sub-section (4), the following sub-section shall be inserted with effect from the 1st day of June, 2016, namely:— \"(4A) | The order under sub-section (4), either accepting or rejecting the application in full or in part, shall be passed within a period of twelve months from the end of the month in which the application under the said sub-section is received by the Principal Commissioner or the Commissioner: Provided that no order rejecting the application, either in full or in part, shall be passed unless the assessee has been given an opportunity of being heard: Provided further that where any application is pending as on the 1st day of June, 2016, the order shall be passed on or before the 31st day of May, 2017.\".","html":"<p><b>Amendment of section 273A.</b></p><p><b>106.</b> In section 273A of the Income-tax Act,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>with effect from the 1st day of April, 2017,—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in sub-section (1),—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>I</i>)</td><td></td><td>in clause (<i>ii</i>), after the words \"or imposable on a person under\", the words, figures and letter \"section 270A or\" shall be inserted;</td></tr><tr><td>(<i>II</i>)</td><td></td><td>in the <i>Explanation</i>, after the words \"as not to attract the provisions of\", the words, figures and letter \"section 270A or\" shall be inserted;</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>b</i>)</td><td></td><td>in sub-section (2), in clause (<i>b</i>), after the words \"if in a case falling under\", the words, figures and letter \"section 270A or\" shall be inserted;</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>ii</i>)</td><td></td><td>after sub-section (4), the following sub-section shall be inserted with effect from the 1st day of June, 2016, namely:—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>\"(4A)</td><td></td><td>The order under sub-section (4), either accepting or rejecting the application in full or in part, shall be passed within a period of twelve months from the end of the month in which the application under the said sub-section is received by the Principal Commissioner or the Commissioner:</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td></td><td></td><td><b>Provided</b> that no order rejecting the application, either in full or in part, shall be passed unless the assessee has been given an opportunity of being heard:</td></tr><tr><td></td><td></td><td><b>Provided further</b> that where any application is pending as on the 1st day of June, 2016, the order shall be passed on or before the 31st day of May, 2017.\".</td></tr></table></div>","words":235,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2016/section/106/","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."}