# The Finance Act, 2022, Section 73: Amendment of section 263

- Act: The Finance Act, 2022 (Act 6 of 2022)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2022/section/73/

## Text

Amendment of section 263. 73.  In section 263 of the Income-tax Act, in sub-section (1),— (a) | after the words "Assessing Officer" wherever they occur, the words "or the Transfer Pricing Officer, as the case may be," shall be inserted; (b) | for the words "including an order enhancing or modifying the assessment, or cancelling the assessment and directing a fresh assessment", the following shall be substituted, namely:— "including,— (i) | an order enhancing or modifying the assessment or cancelling the assessment and directing a fresh assessment; or (ii) | an order modifying the order under section 92CA; or (iii) | an order cancelling the order under section 92CA and directing a fresh order under the said section."; (c) | in Explanation 1, in clause (a), after sub-clause (ii), the following sub-clause shall be inserted, namely:— "(iii) an order under section 92CA by the Transfer Pricing Officer;"; (d) | after Explanation 2, the following Explanation shall be inserted, namely:— 'Explanation 3.—For the purposes of this section, "Transfer Pricing Officer" shall have the same meaning as assigned to it in the Explanation to section 92CA.'.

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