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Section86
The Finance Act, 1992

Substitution of new section for section 267

In force Act 18 of 1992 As on 11 Oct 2026

Act 18 of 1992 Ministry Finance Cited by 1 provision

Section 86 of the Finance Act, 1992 deals with substitution of new section for section 267. Substitution of new section for section 267.

Substitution of new section for section 267.

86. For section 267 of the Income-tax Act, the following section shall be substituted, with effect from the 1st day of April, 1993, namely: —

"267. Amendment of assessment on appeal.—Where as a result of an appeal under section 246 or section 253, any change is made in the assessment of a body of individuals or an association of persons or a new assessment of a body of individuals or an association of persons is ordered to be made, the Deputy Commissioner (Appeals) or the Commissioner (Appeals) or the Appellate Tribunal, as the case rnay be, shall pass an order authorising the Assessing Officer either to amend the assessment made on any member of the body or association or make a fresh assessment on any member of the body or association-".

[Finance Act, 1992]

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Section 86, The Finance Act, 1992 (Act 18 of 1992).

Cross-references

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

This section refers to

  1. Income-tax Act s. 267 Amendment of assessment on appeal

Referred to by 1

  1. s. 49 Substitution of new section for section 86

Questions about Section 86

What does Section 86 of the Finance Act deal with?

Section 86 of the Finance Act is headed "Substitution of new section for section 267". Substitution of new section for section 267.

How do I find court cases under Section 86 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 1992 86, section 86 Finance Act 1992, section 86 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 86 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 267 (Amendment of assessment on appeal), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was the Finance Act enacted?

Finance Act was enacted in 1992 as Act 18 of 1992. 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.