{"act":{"id":"finance-act-2023","short_title":"The Finance Act, 2023","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2023-2024.","act_number":"8","act_year":2023,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":181,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2023/"},"unit":"section","section":{"number":"127","heading":"Amendment of section 295","text":"Amendment of section 295. 127.  In section 295 of the Income-tax Act, in sub-section (2),— (i) | in clause (eec), after the word \"audit\", the words \"or inventory valuation\" shall be inserted; (ii) | in clause (mm), for the words and brackets \"the Commissioner (Appeals)\", the words and brackets \"the Joint Commissioner (Appeals) or the Commissioner (Appeals)\" shall be substituted.","html":"<p><b>Amendment of section 295.</b></p><p><b>127. </b> In section 295 of the Income-tax Act, in sub-section (2),—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in clause (<i>eec</i>), after the word \"audit\", the words \"or inventory valuation\" shall be inserted;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>in clause (<i>mm</i>), for the words and brackets \"the Commissioner (Appeals)\", the words and brackets \"the Joint Commissioner (Appeals) or the Commissioner (Appeals)\" shall be substituted.</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td></td><td></td><td></td><td></td></tr></table></div>","words":60,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2023/section/127/","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."}