Amendment of section 132

Q: When was Section 50 of the Finance Act enacted?

Section 50 of the Finance Act, cited as Finance Act 2017 50, was enacted on 17 Apr 2017. It is in force as at the date shown on this page.

In force As on 09 Oct 2026

Ministry Finance Enacted 17 Apr 2017 Cited by 3 provisions

Section 50 of the Finance Act, 2017 deals with amendment of section 132. Amendment of section 132. 50. In section 132 of the Income-tax Act,— (i) | in sub-section (1), after the fourth proviso, the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1962, namely:— "Explanation.—For the removal of doubts The Act was enacted on 17 Apr 2017.

Amendment of section 132.
50. In section 132 of the Income-tax Act,—
(i) in sub-section (1), after the fourth proviso, the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1962, namely:—
"Explanation.—For the removal of doubts, it is hereby declared that the reason to believe, as recorded by the income-tax authority under this sub-section, shall not be disclosed to any person or any authority or the Appellate Tribunal.";
(ii) in sub-section (1A), the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of October, 1975, namely:—
"Explanation.—For the removal of doubts, it is hereby declared that the reason to suspect, as recorded by the income-tax authority under this sub-section, shall not be disclosed to any person or any authority or the Appellate Tribunal.";
(iii) after sub-section (9A), the following sub-sections shall be inserted, namely:—
"(9B) Where, during the course of the search or seizure or within a period of sixty days from the date on which the last of the authorisations for search was executed, the authorised officer, for reasons to be recorded in writing, is satisfied that for the purpose of protecting the interest of revenue, it is necessary so to do, he may with the previous approval of the Principal Director General or Director General or the Principal Director or Director, by order in writing, attach provisionally any property belonging to the assessee, and for the said purpose the provisions of the Second Schedule shall, mutatis mutandis, apply.
(9C) Every provisional attachment made under sub-section (9B) shall cease to have effect after the expiry of a period of six months from the date of the order referred to in sub-section (9B).
(9D) The authorised officer may, during the course of the search or seizure or within a period of sixty days from the date on which the last of the authorisations for search was executed, make a reference to a Valuation Officer referred to in section 142A, who shall estimate the fair market value of the property in the manner provided under that section and submit a report of the estimate to the said officer within a period of sixty days from the date of receipt of such reference.";
(iv) for Explanation 1, the following Explanation shall be substituted, namely:—
'Explanation 1.—For the purposes of sub-sections (9A), (9B) and (9D), with respect to "execution of an authorisation for search", the provisions of sub-section (2) of section 153B shall apply.'.
Section 50, The Finance Act, 2017.

Cross-references

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

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Referred to by 3

Questions about Section 50

What does Section 50 of the Finance Act deal with?

Section 50 of the Finance Act is headed "Amendment of section 132". Amendment of section 132. 50. In section 132 of the Income-tax Act,— (i) | in sub-section (1), after the fourth proviso, the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1962, namely:— "Explanation.—For the removal of doubts

How do I find court cases under Section 50 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 2017 50, section 50 Finance Act 2017, section 50 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 50 of the Finance Act, and has it changed?

Its own text turns on section 132 (Commencement of this Part), Income-tax Act 132 (Search and seizure), so none of them can safely be read on its own. 3 other provisions in this corpus refer back to it.

When was Section 50 of the Finance Act enacted?

Section 50 of the Finance Act, cited as Finance Act 2017 50, was enacted on 17 Apr 2017. It is in force as at the date shown on this page.

Other sections of this Act

First Schedule. Income-tax8321 words
2. Income-tax4071 words
148. Amendment of Chapter VIB1616 words
47. Amendment of section 115JB1176 words
6. Amendment of section 10856 words
Sixth Schedule. Sixth Schedule820 words

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(i)		in sub-section (1), after the fourth proviso, the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1962, namely:—
		"Explanation.—For the removal of doubts, it is hereby declared that the reason to believe, as recorded by the income-tax authority under this sub-section, shall not be disclosed to any person or any authority or the Appellate Tribunal.";
(ii)		in sub-section (1A), the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of October, 1975, namely:—
		"Explanation.—For the removal of doubts, it is hereby declared that the reason to suspect, as recorded by the income-tax authority under this sub-section, shall not be disclosed to any person or any authority or the Appellate Tribunal.";
(iii)		after sub-section (9A), the following sub-sections shall be inserted, namely:—
		"(9B) Where, during the course of the search or seizure or within a period of sixty days from the date on which the last of the authorisations for search was executed, the authorised officer, for reasons to be recorded in writing, is satisfied that for the purpose of protecting the interest of revenue, it is necessary so to do, he may with the previous approval of the Principal Director General or Director General or the Principal Director or Director, by order in writing, attach provisionally any property belonging to the assessee, and for the said purpose the provisions of the Second Schedule shall, mutatis mutandis, apply.
		(9C) Every provisional attachment made under sub-section (9B) shall cease to have effect after the expiry of a period of six months from the date of the order referred to in sub-section (9B).
		(9D) The authorised officer may, during the course of the search or seizure or within a period of sixty days from the date on which the last of the authorisations for search was executed, make a reference to a Valuation Officer referred to in section 142A, who shall estimate the fair market value of the property in the manner provided under that section and submit a report of the estimate to the said officer within a period of sixty days from the date of receipt of such reference.";
(iv)		for Explanation 1, the following Explanation shall be substituted, namely:—
		'Explanation 1.—For the purposes of sub-sections (9A), (9B) and (9D), with respect to "execution of an authorisation for search", the provisions of sub-section (2) of section 153B shall apply.'.