Amendment of section 153
Section 59 of the Finance Act, 2017 deals with amendment of section 153. Amendment of section 153. 59. In section 153 of the Income-tax Act,— (i) | in sub-section (1), the following provisos shall be inserted, namely:— 'Provided that in respect of an order of assessment relating to the assessment year commencing on the 1st day of April, 2018, the provisions of this sub-s The Act was enacted on 17 Apr 2017.
Amendment of section 153.
59. In section 153 of the Income-tax Act,—
Section 59, The Finance Act, 2017.
(i) in sub-section (1), the following provisos shall be inserted, namely:— 'Provided that in respect of an order of assessment relating to the assessment year commencing on the 1st day of April, 2018, the provisions of this sub-section shall have effect, as if for the words "twenty-one months", the words "eighteen months" had been substituted: Provided further that in respect of an order of assessment relating to the assessment year commencing on or after the 1st day of April, 2019, the provisions of this sub-section shall have effect, as if for the words "twenty-one months", the words "twelve months" had been substituted.'; (ii) in sub-section (2), the following proviso shall be inserted, namely:— 'Provided that where the notice under section 148 is served on or after the 1st day of April, 2019, the provisions of this sub-section shall have effect, as if for the words "nine months", the words "twelve months" had been substituted.'; (iii) in sub-section (3), the following proviso shall be inserted, namely:— 'Provided that where the order under section 254 is received by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner or, as the case may be, the order under section 263 or section 264 is passed by the Principal Commissioner or Commissioner on or after the 1st day of April, 2019, the provisions of this sub-section shall have effect, as if for the words "nine months", the words "twelve months" had been substituted.'; (iv) in sub-section (5), after the proviso, the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of June, 2016, namely:— "Provided further that where an order under section 250 or section 254 or section 260 or section 262 or section 263 or section 264 requires verification of any issue by way of submission of any document by the assessee or any other person or where an opportunity of being heard is to be provided to the assessee, the order giving effect to the said order under section 250 or section 254 or section 260 or section 262 or section 263 or section 264 shall be made within the time specified in sub-section (3)."; (v) in sub-section (9), the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of June, 2016, namely:— "Provided that where a notice under sub-section (1) of section 142 or sub-section (2) of section 143 or section 148 has been issued prior to the 1st day of June, 2016 and the assessment or reassessment has not been completed by such date due to exclusion of time referred to in Explanation 1, such assessment or reassessment shall be completed in accordance with the provisions of this section as it stood immediately before its substitution by the Finance Act, 2016 (28 of 2016)."; (vi) in Explanation 1, in the third proviso, the figures and letter "153B," shall be omitted.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 59
What does Section 59 of the Finance Act deal with?
Section 59 of the Finance Act is headed "Amendment of section 153". Amendment of section 153. 59. In section 153 of the Income-tax Act,— (i) | in sub-section (1), the following provisos shall be inserted, namely:— 'Provided that in respect of an order of assessment relating to the assessment year commencing on the 1st day of April, 2018, the provisions of this sub-s
How do I find court cases under Section 59 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 59, section 59 Finance Act 2017, section 59 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 59 of the Finance Act, and has it changed?
Its own text turns on section 142 (Repeal of Act 32 of 1986), section 143 (Savings), section 148 (Amendment of Chapter VIB), section 153 (Amendment of section 38), and on 1 further provision, so none of them can safely be read on its own.
When was Section 59 of the Finance Act enacted?
Section 59 of the Finance Act, cited as Finance Act 2017 59, 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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