# The Finance Act, 2023, Section 9: Amendment of section 12AB

- Act: The Finance Act, 2023 (Act 8 of 2023)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2023/section/9/

## Text

Amendment of section 12AB. 9.  In section 12AB of the Income-tax Act,— (a) | in sub-section (1) with effect from the 1st day of October, 2023,— (A) | in clause (b),— (a) | in the opening portion, after the word, brackets and figure "sub-clause (v)", the words, brackets, letter and figures "or item (B) of sub-clause (vi)" shall be inserted; (b) | in sub-clause (ii), for item (B), the following item shall be substituted, namely:— "(B) if he is not so satisfied, pass an order in writing,— (I) | in a case referred to in sub-clause (ii) or sub-clause (iii) or sub-clause (v) of clause (ac) of sub-section (1) of section 12A rejecting such application and also cancelling its registration; (II) | in a case referred to in sub-clause (iv) or in item (B) of sub-clause (vi) of sub-section (1) of section 12A, rejecting such application, after affording a reasonable opportunity of being heard;"; (B) | for clause (c), the following clause shall be substituted, namely:— "(c) | where the application is made under item (A) of sub-clause (vi) of the said clause or the application is made under sub-clause (vi) of the said clause, as it stood immediately before its amendment vide the Finance Act, 2023, pass an order in writing provisionally registering the trust or institution for a period of three years from the assessment year from which the registration is sought,"; (b) | in sub-section (4), in the Explanation, in clause (f), for the words "attained finality.", the words "attained finality; or" shall be substituted; (c) | after clause (f), the following clause shall be inserted, namely:— "(g) | the application referred to in clause (ac) of sub-section (1) of section 12A is not complete or it contains false or incorrect information.".

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