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Section67
The Finance Act, 2015

Amendment of section 263

In force Act 20 of 2015 As on 11 Oct 2026

Act 20 of 2015 Ministry Finance Cited by 2 provisions

Section 67 of the Finance Act, 2015 deals with amendment of section 263. Amendment of section 263. 67. In section 263 of the Income-tax Act, in sub-section (1), the Explanation shall be numbered as Explanation 1 thereof and after Explanation 1 as so numbered, the following Explanation shall be inserted with effect from the 1st day of June, 2015, namely:— "Explanation 2.—

Amendment of section 263.

67. In section 263 of the Income-tax Act, in sub-section (1), the Explanation shall be numbered as Explanation 1 thereof and after Explanation 1 as so numbered, the following Explanation shall be inserted with effect from the 1st day of June, 2015, namely:—

"Explanation 2.—For the purposes of this section, it is hereby declared that an order passed by the Assessing Officer shall be deemed to be erroneous in so far as it is prejudicial to the interests of the revenue, if, in the opinion of the Principal Commissioner or Commissioner,—

(a)the order is passed without making inquiries or verification which should have been made;
(b)the order is passed allowing any relief without inquiring into the claim;
(c)the order has not been made in accordance with any order, direction or instruction issued by the Board under section 119; or
(d)the order has not been passed in accordance with any decision which is prejudicial to the assessee, rendered by the jurisdictional High Court or Supreme Court in the case of the assessee or any other person.".
Section 67, The Finance Act, 2015 (Act 20 of 2015).

Cross-references

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

This section refers to

  1. s. 119 Swachh Bharat Cess
  2. Income-tax Act s. 263 Revision of orders prejudicial to revenue

Referred to by 2

  1. s. 111 Amendment of section 67
  2. s. 118 Amendment of section 94

Questions about Section 67

What does Section 67 of the Finance Act deal with?

Section 67 of the Finance Act is headed "Amendment of section 263". Amendment of section 263. 67. In section 263 of the Income-tax Act, in sub-section (1), the Explanation shall be numbered as Explanation 1 thereof and after Explanation 1 as so numbered, the following Explanation shall be inserted with effect from the 1st day of June, 2015, namely:— "Explanation 2.—

How do I find court cases under Section 67 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 2015 67, section 67 Finance Act 2015, section 67 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 67 of the Finance Act, and has it changed?

Its own text turns on section 119 (Swachh Bharat Cess), Income-tax Act 263 (Revision of orders prejudicial to revenue), so none of them can safely be read on its own. 2 other provisions in this corpus refer back to it.

When was the Finance Act enacted?

Finance Act was enacted in 2015 as Act 20 of 2015. 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.