Amendment of section 148
Section 72 of the Finance Act, 2023 deals with amendment of section 148. Amendment of section 148. 72. In section 148 of the Income-tax Act,— (a) | for the words "such period, as may be specified in such notice", the words "a period of three months from the end of the month in which such notice is issued, or such further period as may be allowed by the Assessing Officer
Amendment of section 148.
72. In section 148 of the Income-tax Act,—
Section 72, The Finance Act, 2023 (Act 8 of 2023).
(a) for the words "such period, as may be specified in such notice", the words "a period of three months from the end of the month in which such notice is issued, or such further period as may be allowed by the Assessing Officer on the basis of an application made in this regard by the assessee" shall be substituted; (b) after the second proviso and before Explanation 1, the following proviso shall be inserted, namely:— "Provided also that any return of income, required to be furnished by an assessee under this section and furnished beyond the period allowed shall not be deemed to be a return under section 139.".
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 72
What does Section 72 of the Finance Act deal with?
Section 72 of the Finance Act is headed "Amendment of section 148". Amendment of section 148. 72. In section 148 of the Income-tax Act,— (a) | for the words "such period, as may be specified in such notice", the words "a period of three months from the end of the month in which such notice is issued, or such further period as may be allowed by the Assessing Officer
How do I find court cases under Section 72 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 2023 72, section 72 Finance Act 2023, section 72 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 72 of the Finance Act, and has it changed?
Its own text turns on section 139 (Amendment of section 17), section 148 (Amendment of section 62), Income-tax Act 148 (Issue of notice where income has escaped assessment), so none of them can safely be read on its own. 2 other provisions in this corpus refer back to it.
When was the Finance Act enacted?
Finance Act was enacted in 2023 as Act 8 of 2023. 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
- First Schedule. First Schedule10190 words
- 2. Income-tax8337 words
- Fourth Schedule. Fourth Schedule6615 words
- 5. Amendment of section 102717 words
- 150. Substitution of new section for section 1101621 words
- 54. Insertion of new section 115BAE1218 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.