{"act":{"id":"finance-act-2022","short_title":"The Finance Act, 2022","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2022-2023.","act_number":"6","act_year":2022,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":134,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2022/"},"unit":"section","section":{"number":"73","heading":"Amendment of section 263","text":"Amendment of section 263. 73.  In section 263 of the Income-tax Act, in sub-section (1),— (a) | after the words \"Assessing Officer\" wherever they occur, the words \"or the Transfer Pricing Officer, as the case may be,\" shall be inserted; (b) | for the words \"including an order enhancing or modifying the assessment, or cancelling the assessment and directing a fresh assessment\", the following shall be substituted, namely:— \"including,— (i) | an order enhancing or modifying the assessment or cancelling the assessment and directing a fresh assessment; or (ii) | an order modifying the order under section 92CA; or (iii) | an order cancelling the order under section 92CA and directing a fresh order under the said section.\"; (c) | in Explanation 1, in clause (a), after sub-clause (ii), the following sub-clause shall be inserted, namely:— \"(iii) an order under section 92CA by the Transfer Pricing Officer;\"; (d) | after Explanation 2, the following Explanation shall be inserted, namely:— 'Explanation 3.—For the purposes of this section, \"Transfer Pricing Officer\" shall have the same meaning as assigned to it in the Explanation to section 92CA.'.","html":"<p><b>Amendment of section 263.</b></p><p><b>73. </b> In section 263 of the Income-tax Act, in sub-section (1),—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>after the words \"Assessing Officer\" wherever they occur, the words \"or the Transfer Pricing Officer, as the case may be,\" shall be inserted;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>for the words \"including an order enhancing or modifying the assessment, or cancelling the assessment and directing a fresh assessment\", the following shall be substituted, namely:—</td></tr><tr><td></td><td></td><td>\"including,—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>an order enhancing or modifying the assessment or cancelling the assessment and directing a fresh assessment; or</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>an order modifying the order under section 92CA; or</td></tr><tr><td>(<i>iii</i>)</td><td></td><td>an order cancelling the order under section 92CA and directing a fresh order under the said section.\";</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>c</i>)</td><td></td><td>in <i>Explanation 1</i>, in clause (<i>a</i>), after sub-clause (<i>ii</i>), the following sub-clause shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>\"(<i>iii</i>) an order under section 92CA by the Transfer Pricing Officer;\";</td></tr><tr><td>(<i>d</i>)</td><td></td><td>after <i>Explanation 2</i>, the following <i>Explanation</i> shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>'<i>Explanation 3</i>.—For the purposes of this section, \"Transfer Pricing Officer\" shall have the same meaning as assigned to it in the <i>Explanation</i> to section 92CA.'.</td></tr></table></div>","words":184,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2022/section/73/","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."}