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Section68
The Finance Act, 2002

Amendment of section 158BE

In force As on 11 Oct 2026

Ministry Finance

Section 68 of the Finance Act, 2002 deals with amendment of section 158BE. Amendment of section 158BE. 68. In section 158BE of the Income-tax Act, for Explanation 1, the following shall be substituted with effect from the 1st day of June, 2002, namely:— "Explanation 1.—In computing the period of limitation for the purposes of this section,— (i ) the period during which the

Amendment of section 158BE.

68. In section 158BE of the Income-tax Act, for Explanation 1, the following shall be substituted with effect from the 1st day of June, 2002, namely:—

"Explanation 1.—In computing the period of limitation for the purposes of this section,—

(i ) the period during which the assessment proceeding is stayed by an order or injunction of any court; or

(ii ) the period commencing from the day on which the Assessing Officer directs the assessee to get his accounts audited under sub-section (2A) of section 142 and ending on the day on which the assessee is required to furnish a report of such audit under that sub-section; or

(iii ) the time taken in reopening the whole or any part of the proceeding or giving an opportunity to the assessee to be re-heard under the proviso to section 129; or

(iv ) in a case where an application made before the Settlement Commission under section 245C is rejected by it or is not allowed to be proceeded with by it, the period commencing on the date on which such application is made and ending with the date on which the order under sub-section (1) of section 245D is received by the Commissioner under sub-section (2) of that section,

shall be excluded :

Provided that where immediately after the exclusion of the aforesaid period, the period of limitation referred to in sub-section (1) or sub-section (2) available to the Assessing Officer for making an order under clause (c) of section 158BC is less than sixty days, such remaining period shall be extended to sixty days and the aforesaid period of limitation shall be deemed to be extended accordingly.".

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Section 68, The Finance Act, 2002.

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. 158BE Time-limit for completion of block assessment

Questions about Section 68

What does Section 68 of the Finance Act deal with?

Section 68 of the Finance Act is headed "Amendment of section 158BE". Amendment of section 158BE. 68. In section 158BE of the Income-tax Act, for Explanation 1, the following shall be substituted with effect from the 1st day of June, 2002, namely:— "Explanation 1.—In computing the period of limitation for the purposes of this section,— (i ) the period during which the

How do I find court cases under Section 68 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 2002 68, section 68 Finance Act 2002, section 68 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 68 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 158BE (Time-limit for completion of block assessment), so none of them can safely be read on its own.

When was the Finance Act enacted?

Finance Act was enacted in 2002. 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.