{"act":{"id":"finance-act-2025","short_title":"The Finance Act, 2025","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2025-2026.","act_number":"7","act_year":2025,"enact_date":"2025-08-16","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":153,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2025/"},"unit":"section","section":{"number":"49","heading":"Amendment of section 158BA","text":"Amendment of section 158BA. 49.  In section 158BA of the Income-tax Act, with effect from the 1st day of September, 2024,— (a) | in the marginal heading, for the words \"total income\", the words \"total undisclosed income\" shall be substituted and shall be deemed to have been substituted; (b) | in sub-section (1), for the words \"total income\", the words \"total undisclosed income\" shall be substituted and shall be deemed to have been substituted; [(ba) for sub-section (2) the following sub-section shall be substituted namely:- (2)(a) The assessment or reassessment or recomputation under the provisions of this Act (other than this Chapter), if any, pertaining to any assessment year falling in the block period, pending on the date of initiation of the search under section 132, or making of requisition under section 132A, as the case may be, shall abate and shall be deemed to have been abated on the date of initiation of search or making of requisition. (b) Any proceeding for assessment or reassessment or recomputation under any provision of this Act (other than this Chapter) pertaining to any assessment year falling in the block period (other than the assessment year in which the last of the authorisations for a search is executed or requisition is made), for which a notice has been issued during the period commencing on the date of initiation of search under section 132 or making of requisition under section 132A and ending on the date of making of order under clause (c) of sub-section (1) of section 158BC, shall abate and shall be deemed to have been abated on the date of issue of such notice.] (c) | in sub-section (4), for the word \"pending\", the words \"required to be made\" shall be substituted and shall be deemed to have been substituted; (d) | in sub-section (5), for the words \"the assessment or reassessment relating to any assessment year\", the words \"the assessment or reassessment or re-computation or reference or order relating to any assessment year\" shall be substituted and shall be deemed to have been substituted; (e) | in sub-section (7), for the words \"total income\", the words \"total undisclosed income\" shall be substituted and shall be deemed to have been substituted.","html":"<p><b>Amendment of section 158BA.</b></p><p><b>49. </b> In section 158BA of the Income-tax Act, with effect from the 1st day of September, 2024,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in the marginal heading, for the words \"total income\", the words \"total undisclosed income\" shall be substituted and shall be deemed to have been substituted;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>in sub-section (1), for the words \"total income\", the words \"total undisclosed income\" shall be substituted and shall be deemed to have been substituted;</td></tr></table></div><p><b>[</b>(<i>ba</i>) <i>for sub-section (2) the following sub-section shall be substituted namely:-</i></p><p><i>(2)(</i>a<i>) The assessment or reassessment or recomputation under the provisions of this Act (other than this Chapter), if any, pertaining to any assessment year falling in the block period, pending on the date of initiation of the search under section 132, or making of requisition under section 132A, as the case may be, shall abate and shall be deemed to have been abated on the date of initiation of search or making of requisition.</i></p><p><i>(</i>b<i>) Any proceeding for assessment or reassessment or recomputation under any provision of this Act (other than this Chapter) pertaining to any assessment year falling in the block period (other than the assessment year in which the last of the authorisations for a search is executed or requisition is made), for which a notice has been issued during the period commencing on the date of initiation of search under section 132 or making of requisition under section 132A and ending on the date of making of order under clause </i>(c)<i> of sub-section (1) of section 158BC, shall abate and shall be deemed to have been abated on the date of issue of such notice</i>.<b>]</b></p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>c</i>)</td><td></td><td>in sub-section (4), for the word \"pending\", the words \"required to be made\" shall be substituted and shall be deemed to have been substituted;</td></tr><tr><td>(<i>d</i>)</td><td></td><td>in sub-section (5), for the words \"the assessment or reassessment relating to any assessment year\", the words \"the assessment or reassessment or re-computation or reference or order relating to any assessment year\" shall be substituted and shall be deemed to have been substituted;</td></tr><tr><td>(<i>e</i>)</td><td></td><td>in sub-section (7), for the words \"total income\", the words \"total undisclosed income\" shall be substituted and shall be deemed to have been substituted.</td></tr></table></div>","words":370,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2025/section/49/","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."}