Section27
The Finance Act, 1982

Amendment of section 245B

In force Act 14 of 1982 As on 19 Oct 2026

Act 14 of 1982 Ministry Finance

Section 27 of the Finance Act, 1982 deals with amendment of section 245B. Amendment of section 245B. 27. In section 245B of the Income-tax Act, after sub-section (2), the following sub-section shall be inserted, namely: — "(2A) Notwithstanding anything, contained in sub-section (2),, when the post of one of the other members of the Settlement Commission is vacant for any

Amendment of section 245B.

27. In section 245B of the Income-tax Act, after sub-section (2), the following sub-section shall be inserted, namely: —

"(2A) Notwithstanding anything, contained in sub-section (2),, when the post of one of the other members of the Settlement Commission is vacant for any reason, the Chairman and the other member of the Settlement Commission may function as, and exercise and discharge the powers and functions of, the Settlement Commission under this Chapter:

Provided that if in any case the Chairman and member so functioning differ on any point or points, they shall state the point or points on which they differ and refer the same, as soon as may be after the said vacancy is filled, to the member appointed to fill the vacancy for hearing on such point or points and such point or points shall be decided according to his opinion.".

[Finance Act, 1982]

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Section 27, The Finance Act, 1982 (Act 14 of 1982).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

Questions about Section 27

What does Section 27 of the Finance Act deal with?

Section 27 of the Finance Act is headed "Amendment of section 245B". Amendment of section 245B. 27. In section 245B of the Income-tax Act, after sub-section (2), the following sub-section shall be inserted, namely: — "(2A) Notwithstanding anything, contained in sub-section (2),, when the post of one of the other members of the Settlement Commission is vacant for any

How do I find court cases under Section 27 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 1982 27, section 27 Finance Act 1982, section 27 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 27 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 245B (Income-tax Settlement Commission), so none of them can safely be read on its own.

When was the Finance Act enacted?

Finance Act was enacted in 1982 as Act 14 of 1982. India Code records no commencement date for it. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. 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. This page is not a substitute for legal advice.