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Section60
The Finance Act, 2008

Amendment of section 17

In force As on 07 Oct 2026

Ministry Finance

Section 60 of the Finance Act, 2008 deals with amendment of section 17. Wealth-tax Amendment of section 17. 60. In section 17 of the Wealth-tax Act,— (a ) in sub-section (1), after the second proviso, the following proviso shall be inserted, namely:— " Provided also that the Assessing Officer may assess or reassess such net wealth, other than the net wealth which is the

Wealth-tax

Amendment of section 17.

60. In section 17 of the Wealth-tax Act,—

(a ) in sub-section (1), after the second proviso, the following proviso shall be inserted, namely:—

" Provided also that the Assessing Officer may assess or reassess such net wealth, other than the net wealth which is the subject matter of any appeal, reference or revision, which is chargeable to tax and has escaped assessment.";

(b ) in sub-section (1B), after clause (b), the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of October, 1998, namely:—

" Explanation.—For the removal of doubts, it is hereby declared that the Joint Commissioner, the Commissioner or the Chief Commissioner, as the case may be, being satisfied on the reasons recorded by the Assessing Officer about fitness of a case for the issue of notice, need not issue such notice himself.".

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Section 60, The Finance Act, 2008.

Cross-references

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

This section refers to

  1. s. 17 Substitution of new section for section 80D
  2. Wealth-tax Act s. 17 Wealth escaping assessment

Questions about Section 60

What does Section 60 of the Finance Act deal with?

Section 60 of the Finance Act is headed "Amendment of section 17". Wealth-tax Amendment of section 17. 60. In section 17 of the Wealth-tax Act,— (a ) in sub-section (1), after the second proviso, the following proviso shall be inserted, namely:— " Provided also that the Assessing Officer may assess or reassess such net wealth, other than the net wealth which is the

How do I find court cases under Section 60 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 2008 60, section 60 Finance Act 2008, section 60 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 60 of the Finance Act, and has it changed?

Its own text turns on section 17 (Substitution of new section for section 80D), Wealth-tax Act 17 (Wealth escaping assessment), so none of them can safely be read on its own.

When was the Finance Act enacted?

Finance Act was enacted in 2008. 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.