Amendment of section 153B

In force As on 09 Oct 2026

Ministry Finance

Section 42 of the Finance Act, 2013 deals with amendment of section 153B. Amendment of section 153B. 42. In section 153B of the Income-tax Act, in sub-section (1),— (a) | for the fourth proviso, the following proviso shall be substituted and shall be deemed to have been substituted with effect from the 1st day of July, 2012, namely:— 'Provided also that in case where the

Amendment of section 153B.
42. In section 153B of the Income-tax Act, in sub-section (1),—
(a) for the fourth proviso, the following proviso shall be substituted and shall be deemed to have been substituted with effect from the 1st day of July, 2012, namely:—
'Provided also that in case where the last of the authorisations for search under section 132 or for requisition under section 132A was executed during the financial year commencing on the 1st day of April, 2009 or any subsequent financial year and during the course of the proceeding for the assessment or reassessment of total income, a reference under sub-section (1) of section 92CA is made, the provisions of clause (a) or clause (b) of this sub-section, shall, notwithstanding anything contained in clause (i) of the second proviso, have effect as if for the words "two years", the words "three years" had been substituted';
(b) for the sixth proviso, the following proviso shall be substituted and shall be deemed to have been substituted with effect from the 1st day of July, 2012, namely:—
'Provided also that in case where the last of the authorisations for search under section 132 or for requisition under section 132A was executed during the financial year commencing on the 1st day of April, 2009 or any subsequent financial year and during the course of the proceeding for the assessment or reassessment of total income, in case of other person referred to in section 153C, a reference under sub-section (1) of section 92CA is made, the period of limitation for making the assessment or reassessment in case of such other person shall, notwithstanding anything contained in clause (ii) of the second proviso, be the period of thirty-six months from the end of the financial year in which the last of the authorisations for search under section 132 or for requisition under section 132A was executed or twenty-four months from the end of the financial year in which books of account or documents or assets seized or requisitioned are handed over under section 153C to the Assessing Officer having jurisdiction over such other person, whichever is later.';
(c) in the Explanation,—
(a) for clause (ii), the following clause shall be substituted with effect from the 1st day of June, 2013, namely:—
"(ii) the period commencing from the date on which the Assessing Officer directs the assessee to get his accounts audited under sub-section (2A) of section 142 and—
(a) ending with the last date on which the assessee is required to furnish a report of such audit under that sub-section; or
(b) where such direction is challenged before a court, ending with the date on which the order setting aside such direction is received by the Commissioner, or";
(b) for clause (viii), the following clause shall be substituted with effect from the 1st day of June, 2013, namely:—
"(viii) the period commencing from the date on which a reference or first of the references for exchange of information is made by an authority competent under an agreement referred to in section 90 or section 90A and ending with the date on which the information requested is last received by the Commissioner or a period of one year, whichever is less,";
(c) clause (ix) shall be omitted;
(d) in clause (viii), at the end, the word "or" and after clause (viii), the following clause shall be inserted with effect from the 1st day of April, 2016, namely:—
"(ix) the period commencing from the date on which a reference for declaration of an arrangement to be an impermissible avoidance arrangement is received by the Commissioner under sub-section (1) of section 144BA and ending on the date on which a direction under sub-section (3) or sub-section (6) or an order under sub-section (5) of the said section is received by the Assessing Officer,".
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Section 42, The Finance Act, 2013.

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

This section refers to

Questions about Section 42

What does Section 42 of the Finance Act deal with?

Section 42 of the Finance Act is headed "Amendment of section 153B". Amendment of section 153B. 42. In section 153B of the Income-tax Act, in sub-section (1),— (a) | for the fourth proviso, the following proviso shall be substituted and shall be deemed to have been substituted with effect from the 1st day of July, 2012, namely:— 'Provided also that in case where the

How do I find court cases under Section 42 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 2013 42, section 42 Finance Act 2013, section 42 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 42 of the Finance Act, and has it changed?

Its own text turns on section 90 (Amendment of section 11), section 132 (Institution of prosecution), section 132A (Chapter VII not to apply in certain cases), Income-tax Act 153B (Time limit for completion of assessment under section 153A), so none of them can safely be read on its own.

When was the Finance Act enacted?

Finance Act was enacted in 2013. 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 Schedule7233 words
2. Income-tax3208 words
26. Insertion of new Chapter X-A1952 words
103. Amendment of Act 32 of 19941412 words
5. Amendment of section 101253 words
39. Insertion of new section 144BA1225 words

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(a)		for the fourth proviso, the following proviso shall be substituted and shall be deemed to have been substituted with effect from the 1st day of July, 2012, namely:—
		'Provided also that in case where the last of the authorisations for search under section 132 or for requisition under section 132A was executed during the financial year commencing on the 1st day of April, 2009 or any subsequent financial year and during the course of the proceeding for the assessment or reassessment of total income, a reference under sub-section (1) of section 92CA is made, the provisions of clause (a) or clause (b) of this sub-section, shall, notwithstanding anything contained in clause (i) of the second proviso, have effect as if for the words "two years", the words "three years" had been substituted';
(b)		for the sixth proviso, the following proviso shall be substituted and shall be deemed to have been substituted with effect from the 1st day of July, 2012, namely:—
		'Provided also that in case where the last of the authorisations for search under section 132 or for requisition under section 132A was executed during the financial year commencing on the 1st day of April, 2009 or any subsequent financial year and during the course of the proceeding for the assessment or reassessment of total income, in case of other person referred to in section 153C, a reference under sub-section (1) of section 92CA is made, the period of limitation for making the assessment or reassessment in case of such other person shall, notwithstanding anything contained in clause (ii) of the second proviso, be the period of thirty-six months from the end of the financial year in which the last of the authorisations for search under section 132 or for requisition under section 132A was executed or twenty-four months from the end of the financial year in which books of account or documents or assets seized or requisitioned are handed over under section 153C to the Assessing Officer having jurisdiction over such other person, whichever is later.';
(c)		in the Explanation,—

(a)		for clause (ii), the following clause shall be substituted with effect from the 1st day of June, 2013, namely:—
		"(ii) the period commencing from the date on which the Assessing Officer directs the assessee to get his accounts audited under sub-section (2A) of section 142 and—

(a)		ending with the last date on which the assessee is required to furnish a report of such audit under that sub-section; or
(b)		where such direction is challenged before a court, ending with the date on which the order setting aside such direction is received by the Commissioner, or";

(b)		for clause (viii), the following clause shall be substituted with effect from the 1st day of June, 2013, namely:—
		"(viii) the period commencing from the date on which a reference or first of the references for exchange of information is made by an authority competent under an agreement referred to in section 90 or section 90A and ending with the date on which the information requested is last received by the Commissioner or a period of one year, whichever is less,";
(c)		clause (ix) shall be omitted;
(d)		in clause (viii), at the end, the word "or" and after clause (viii), the following clause shall be inserted with effect from the 1st day of April, 2016, namely:—
		"(ix) the period commencing from the date on which a reference for declaration of an arrangement to be an impermissible avoidance arrangement is received by the Commissioner under sub-section (1) of section 144BA and ending on the date on which a direction under sub-section (3) or sub-section (6) or an order under sub-section (5) of the said section is received by the Assessing Officer,".