Insertion of new section 28BB
Section 92 of the Finance Act, 2021 deals with insertion of new section 28BB. Insertion of new section 28BB. 92. After section 28BA of the Customs Act, the following section shall be inserted, namely:–– "28BB.
Insertion of new section 28BB.
92. After section 28BA of the Customs Act, the following section shall be inserted, namely:––
"28BB. Time limit for completion of certain actions.—(1) Any inquiry or investigation under this Act, culminating in the issuance of a notice under sub-section (1) or sub-section (4) of section 28 shall be completed by issuing such notice, within a period of two years from the date of initiation of audit, search, seizure or summons, as the case may be:
Provided that the Principal Commissioner of Customs or the Commissioner of Customs may, on sufficient cause being shown and for reasons to be recorded in writing, extend the said period to a further period of one year.
(2) For computing the period under sub-section (1), the period during which stay was granted by an order of a court or tribunal, or the period for seeking information from an overseas authority through a legal process, shall be excluded.
Explanation.––For the removal of doubts, it is hereby declared that nothing contained in this section shall apply to any such proceeding initiated before the date on which the Finance Bill, 2021 receives the assent of the President.".
Section 92, The Finance Act, 2021.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 92
What does Section 92 of the Finance Act deal with?
Section 92 of the Finance Act is headed "Insertion of new section 28BB". Insertion of new section 28BB. 92. After section 28BA of the Customs Act, the following section shall be inserted, namely:–– "28BB.
How do I find court cases under Section 92 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 2021 92, section 92 Finance Act 2021, section 92 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 92 of the Finance Act, and has it changed?
Its own text turns on Customs Act 28BA (Provisional attachment to protect revenue in certain cases), section 28 (Amendment of section 80-IAC), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 2021. 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
- Fourth Schedule. Fourth Schedule26628 words
- First Schedule. First Schedule9574 words
- 2. Income-tax5993 words
- 6. Amendment of section 103582 words
- 130. Substitution of new section for section 43513 words
- 131. Substitution of new section for section 52699 words
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.