Insertion of new section 292CC
Section 112 of the Finance Act, 2012 deals with insertion of new section 292CC. Insertion of new section 292CC. 112. After section 292C of the Income-tax Act, the following section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1976, namely:— "292CC.
Insertion of new section 292CC.
112. After section 292C of the Income-tax Act, the following section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1976, namely:—
"292CC. Authorisation and assessment in case of search or requisition.—(1) Notwithstanding anything contained in this Act,—
(i) it shall not be necessary to issue an authorisation under section 132 or make a requisition under section 132A separately in the name of each person;
(ii) where an authorisation under section 132 has been issued or requisition under section 132A has been made mentioning therein the name of more than one person, the mention of such names of more than one person on such authorisation or requisition shall not be deemed to construe that it was issued in the name of an association of persons or body of individuals consisting of such persons.
(2) Notwithstanding that an authorisation under section 132 has been issued or requisition under section 132A has been made mentioning therein the name of more than one person, the assessment or reassessment shall be made separately in the name of each of the persons mentioned in such authorisation or requisition.".
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Section 112, The Finance Act, 2012.
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Questions about Section 112
What does Section 112 of the Finance Act deal with?
Section 112 of the Finance Act is headed "Insertion of new section 292CC". Insertion of new section 292CC. 112. After section 292C of the Income-tax Act, the following section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1976, namely:— "292CC.
How do I find court cases under Section 112 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 2012 112, section 112 Finance Act 2012, section 112 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 112 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 292C (Presumption as to assets, books of account, etc), so none of them can safely be read on its own. 3 other provisions in this corpus refer back to it.
When was the Finance Act enacted?
Finance Act was enacted in 2012. 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
- First Schedule. First Schedule7049 words
- 2. Income-tax2690 words
- 41. Insertion of new Chapter X-A1832 words
- 19. Insertion of new section 54GB1044 words
- 40. Insertion of new sections 92CC and 92CD951 words
- 62. Insertion of new section 144BA869 words
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