{"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":"9","heading":"Amendment of section 12AB","text":"Amendment of section 12AB. 9.  In section 12AB of the Income-tax Act,— (a) | in sub-section (1) with effect from the 1st day of October, 2023,— (A) | in clause (b),— (a) | in the opening portion, after the word, brackets and figure \"sub-clause (v)\", the words, brackets, letter and figures \"or item (B) of sub-clause (vi)\" shall be inserted; (b) | in sub-clause (ii), for item (B), the following item shall be substituted, namely:— \"(B) if he is not so satisfied, pass an order in writing,— (I) | in a case referred to in sub-clause (ii) or sub-clause (iii) or sub-clause (v) of clause (ac) of sub-section (1) of section 12A rejecting such application and also cancelling its registration; (II) | in a case referred to in sub-clause (iv) or in item (B) of sub-clause (vi) of sub-section (1) of section 12A, rejecting such application, after affording a reasonable opportunity of being heard;\"; (B) | for clause (c), the following clause shall be substituted, namely:— \"(c) | where the application is made under item (A) of sub-clause (vi) of the said clause or the application is made under sub-clause (vi) of the said clause, as it stood immediately before its amendment vide the Finance Act, 2023, pass an order in writing provisionally registering the trust or institution for a period of three years from the assessment year from which the registration is sought,\"; (b) | in sub-section (4), in the Explanation, in clause (f), for the words \"attained finality.\", the words \"attained finality; or\" shall be substituted; (c) | after clause (f), the following clause shall be inserted, namely:— \"(g) | the application referred to in clause (ac) of sub-section (1) of section 12A is not complete or it contains false or incorrect information.\".","html":"<p><b>Amendment of section 12AB.</b></p><p><b>9. </b> In section 12AB of the Income-tax Act,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in sub-section (1) with effect from the 1st day of October, 2023,—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>A</i>)</td><td></td><td>in clause (<i>b</i>),—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in the opening portion, after the word, brackets and figure \"sub-clause (<i>v</i>)\", the words, brackets, letter and figures \"or item (<i>B</i>) of sub-clause (<i>vi</i>)\" shall be inserted;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>in sub-clause (<i>ii</i>), for item (<i>B</i>), the following item shall be substituted, namely:—</td></tr><tr><td></td><td></td><td>\"(<i>B</i>) if he is not so satisfied, pass an order in writing,—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>I</i>)</td><td></td><td>in a case referred to in sub-clause (<i>ii</i>) or sub-clause (<i>iii</i>) or sub-clause (<i>v</i>) of clause (<i>ac</i>) of sub-section (1) of section 12A rejecting such application and also cancelling its registration;</td></tr><tr><td>(<i>II</i>)</td><td></td><td>in a case referred to in sub-clause (<i>iv</i>) or in item (<i>B</i>) of sub-clause (<i>vi</i>) of sub-section (1) of section 12A, rejecting such application,</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td></td><td></td><td>after affording a reasonable opportunity of being heard;\";</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>B</i>)</td><td></td><td>for clause (<i>c</i>), the following clause shall be substituted, namely:—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>\"(<i>c</i>)</td><td></td><td>where the application is made under item (<i>A</i>) of sub-clause (<i>vi</i>) of the said clause or the application is made under sub-clause (<i>vi</i>) of the said clause, as it stood immediately before its amendment <i>vide</i> the Finance Act, 2023, pass an order in writing provisionally registering the trust or institution for a period of three years from the assessment year from which the registration is sought,\";</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>b</i>)</td><td></td><td>in sub-section (4), in the <i>Explanation,</i> in clause (<i>f</i>), for the words \"attained finality.\", the words \"attained finality; or\" shall be substituted;</td></tr><tr><td>(<i>c</i>)</td><td></td><td>after clause (<i>f</i>), the following clause shall be inserted, namely:—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>\"(<i>g</i>)</td><td></td><td>the application referred to in clause (<i>ac</i>) of sub-section (1) of section 12A is not complete or it contains false or incorrect information.\".</td></tr></table></div>","words":295,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2023/section/9/","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."}