eCourtsIndia
IndiaCode Laws
Section73
The Finance Act, 2023

Amendment of section 149

In force Act 8 of 2023 As on 09 Oct 2026

Act 8 of 2023 Ministry Finance

Section 73 of the Finance Act, 2023 deals with amendment of section 149. Amendment of section 149. 73. In section 149 of the Income-tax Act, in sub-section (1),— (I) | after the second proviso, the following provisos shall be inserted, namely:— "Provided also that for cases referred to in clauses (i), (iii) and (iv) of Explanation 2 to section 148, where,— (a) | a search

Amendment of section 149.

73. In section 149 of the Income-tax Act, in sub-section (1),—

(I)after the second proviso, the following provisos shall be inserted, namely:—
"Provided also that for cases referred to in clauses (i), (iii) and (iv) of Explanation 2 to section 148, where,—
(a)a search is initiated under section 132; or
(b)a search under section 132 for which the last of authorisations is executed; or
(c)requisition is made under section 132A,
after the 15th day of March of any financial year and the period for issue of notice under section 148 expires on the 31st day of March of such financial year, a period of fifteen days shall be excluded for the purpose of computing the period of limitation as per this section and the notice issued under section 148 in such case shall be deemed to have been issued on the 31st day of March of such financial year:
Provided also that where the information as referred to in Explanation 1 to section 148 emanates from a statement recorded or documents impounded under section 131 or section 133A, as the case may be, on or before the 31st day of March of a financial year, in consequence of,—
(a)a search under section 132 which is initiated; or
(b)a search under section 132 for which the last of authorisations is executed; or
(c)a requisition made under section 132A,
after the 15th day of March of such financial year, a period of fifteen days shall be excluded for the purpose of computing the period of limitation as per this section and the notice issued under clause (b) of section 148A in such case shall be deemed to have been issued on the 31st day of March of such financial year:";
(II)in the sixth proviso, for the words "less than seven days", the words "does not exceed seven days" shall be substituted.
Section 73, The Finance Act, 2023 (Act 8 of 2023).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. s. 131 Amendment of section 127C
  2. s. 132 Amendment of section 157
  3. s. 148 Amendment of section 62
  4. s. 149 Substitution of section 109
  5. Income-tax Act s. 149 Time limit for notices under sections 148 and 148A

Questions about Section 73

What does Section 73 of the Finance Act deal with?

Section 73 of the Finance Act is headed "Amendment of section 149". Amendment of section 149. 73. In section 149 of the Income-tax Act, in sub-section (1),— (I) | after the second proviso, the following provisos shall be inserted, namely:— "Provided also that for cases referred to in clauses (i), (iii) and (iv) of Explanation 2 to section 148, where,— (a) | a search

How do I find court cases under Section 73 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 73, section 73 Finance Act 2023, section 73 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 73 of the Finance Act, and has it changed?

Its own text turns on section 131 (Amendment of section 127C), section 132 (Amendment of section 157), section 148 (Amendment of section 62), section 149 (Substitution of section 109), and on 1 further provision, so none of them can safely be read on its own.

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

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.