{"act":{"id":"finance-act-2026","short_title":"The Finance Act, 2026","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2026-2027.","act_number":"4","act_year":2026,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":167,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2026/"},"unit":"section","section":{"number":"53","heading":"Amendment of section 166","text":"Amendment of section 166. 53. In section 166 of the Income-tax Act, for sub-section (7), the following sub-section shall be substituted, namely:— \"(7) Where a reference was made under sub-section (1), an order under sub-section (6) may be made at any time before one month prior to the month in which period of limitation referred to in section 286 or 296, for making the order of assessment or reassessment or recomputation or fresh assessment, expires and accordingly, where such period expires on— (a) | the 31st March of any year, the order under sub-section (6) shall be made on or before the 31st January of that year; (b) | the 31st December of any year, the order under sub-section (6) shall be made on or before the 31st October of that year.\".","html":"<p><b>Amendment of section 166.</b></p><p><b>53.</b> In section 166 of the Income-tax Act, for sub-section (7), the following sub-section shall be substituted, namely:—</p><p>\"(7) Where a reference was made under sub-section (1), an order under sub-section (6) may be made at any time before one month prior to the month in which period of limitation referred to in section 286 or 296, for making the order of assessment or reassessment or recomputation or fresh assessment, expires and accordingly, where such period expires on—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>the 31st March of any year, the order under sub-section (6) shall be made on or before the 31st January of that year;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>the 31st December of any year, the order under sub-section (6) shall be made on or before the 31st October of that year.\".</td></tr></table></div>","words":132,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2026/section/53/","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."}