{"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":"96","heading":"Amendment of section 127A","text":"Amendment of section 127A. 96.  In section 127A of the Customs Act,— (i) | after clause (d), the following clause shall be inserted, namely:— '(da) | \"Interim Board\" means the Interim Board for Settlement constituted under section 31A of the Central Excise Act, 1944 (1 of 1944);'; (ii) | after clause (e), the following clause shall be inserted, namely:— '(ea) | \"pending application\" means an application filed under section 127B before the 1st day of April, 2025 and fulfils the following conditions, namely:— (i) | it has been allowed under section 127C; and (ii) | no order under sub-section (5) of section 127C was issued on or before the 31st day of March, 2025 with respect to such application;'.","html":"<p><b>Amendment of section 127A.</b></p><p><b>96. </b> In section 127A of the Customs Act,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>after clause (<i>d</i>), the following clause shall be inserted, namely:—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>'(<i>da</i>)</td><td></td><td>\"Interim Board\" means the Interim Board for Settlement constituted under section 31A of the Central Excise Act, 1944 (1 of 1944);';</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>ii</i>)</td><td></td><td>after clause (<i>e</i>), the following clause shall be inserted, namely:—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>'(<i>ea</i>)</td><td></td><td>\"pending application\" means an application filed under section 127B before the 1st day of April, 2025 and fulfils the following conditions, namely:—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>it has been allowed under section 127C; and</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>no order under sub-section (5) of section 127C was issued on or before the 31st day of March, 2025 with respect to such application;'.</td></tr></table></div>","words":119,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2025/section/96/","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."}