Amendment of section 153A

Q: When was Section 60 of the Finance Act enacted?

Section 60 of the Finance Act, cited as Finance Act 2017 60, was enacted on 17 Apr 2017. It is in force as at the date shown on this page.

In force As on 06 Oct 2026

Ministry Finance Enacted 17 Apr 2017

Section 60 of the Finance Act, 2017 deals with amendment of section 153A. Amendment of section 153A. 60. In section 153A of the Income-tax Act, in sub-section (1),— (i) | in clause (a), first proviso and the second proviso, after the words "six assessment years" wherever they occur, the words "and for the relevant assessment year or years" shall be inserted; The Act was enacted on 17 Apr 2017.

Amendment of section 153A.
60. In section 153A of the Income-tax Act, in sub-section (1),—
(i) in clause (a), first proviso and the second proviso, after the words "six assessment years" wherever they occur, the words "and for the relevant assessment year or years" shall be inserted;
(ii) in clause (b), after the words "requisition is made", the words "and of the relevant assessment year or years" shall be inserted;
(iii) in the third proviso, after the words "requisition is made", the words "and for the relevant assessment year or years" shall be inserted;
(iv) after the third proviso, the following shall be inserted, namely:—
'Provided also that no notice for assessment or reassessment shall be issued by the Assessing Officer for the relevant assessment year or years unless—
(a) the Assessing Officer has in his possession books of account or other documents or evidence which reveal that the income, represented in the form of asset, which has escaped assessment amounts to or is likely to amount to fifty lakh rupees or more in the relevant assessment year or in aggregate in the relevant assessment years;
(b) the income referred to in clause (a) or part thereof has escaped assessment for such year or years; and
(c) the search under section 132 is initiated or requisition under section 132A is made on or after the 1st day of April, 2017.
Explanation 1.—For the purposes of this sub-section, the expression "relevant assessment year" shall mean an assessment year preceding the assessment year relevant to the previous year in which search is conducted or requisition is made which falls beyond six assessment years but not later than ten assessment years from the end of the assessment year relevant to the previous year in which search is conducted or requisition is made.
Explanation 2.—For the purposes of the fourth proviso, "asset" shall include immovable property being land or building or both, shares and securities, loans and advances, deposits in bank account.'.
Section 60, The Finance Act, 2017.

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Questions about Section 60

What does Section 60 of the Finance Act deal with?

Section 60 of the Finance Act is headed "Amendment of section 153A". Amendment of section 153A. 60. In section 153A of the Income-tax Act, in sub-section (1),— (i) | in clause (a), first proviso and the second proviso, after the words "six assessment years" wherever they occur, the words "and for the relevant assessment year or years" shall be inserted;

How do I find court cases under Section 60 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 60, section 60 Finance Act 2017, section 60 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 60 of the Finance Act, and has it changed?

Its own text turns on section 132 (Commencement of this Part), Income-tax Act 153A (Assessment in case of search or requisition), so none of them can safely be read on its own.

When was Section 60 of the Finance Act enacted?

Section 60 of the Finance Act, cited as Finance Act 2017 60, 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 clause (a), first proviso and the second proviso, after the words "six assessment years" wherever they occur, the words "and for the relevant assessment year or years" shall be inserted;
(ii)		in clause (b), after the words "requisition is made", the words "and of the relevant assessment year or years" shall be inserted;
(iii)		in the third proviso, after the words "requisition is made", the words "and for the relevant assessment year or years" shall be inserted;
(iv)		after the third proviso, the following shall be inserted, namely:—
		'Provided also that no notice for assessment or reassessment shall be issued by the Assessing Officer for the relevant assessment year or years unless—

(a)		the Assessing Officer has in his possession books of account or other documents or evidence which reveal that the income, represented in the form of asset, which has escaped assessment amounts to or is likely to amount to fifty lakh rupees or more in the relevant assessment year or in aggregate in the relevant assessment years;
(b)		the income referred to in clause (a) or part thereof has escaped assessment for such year or years; and
(c)		the search under section 132 is initiated or requisition under section 132A is made on or after the 1st day of April, 2017.

		Explanation 1.—For the purposes of this sub-section, the expression "relevant assessment year" shall mean an assessment year preceding the assessment year relevant to the previous year in which search is conducted or requisition is made which falls beyond six assessment years but not later than ten assessment years from the end of the assessment year relevant to the previous year in which search is conducted or requisition is made.
		Explanation 2.—For the purposes of the fourth proviso, "asset" shall include immovable property being land or building or both, shares and securities, loans and advances, deposits in bank account.'.