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Section47
The Finance Act, 2025

Amendment of section 155

In force Act 7 of 2025 As on 10 Oct 2026

Act 7 of 2025 Ministry Finance Enacted 16 Aug 2025 Cited by 1 provision

Section 47 of the Finance Act, 2025 deals with amendment of section 155. Amendment of section 155. 47. In section 155 of the Income-tax Act, after sub-section (20), the following sub-section shall be inserted with effect from the 1st April, 2026, namely:— "(21) Where the arm's length price is determined in relation to an international transaction or a specified domestic The Act was enacted on 16 Aug 2025.

Amendment of section 155.

47. In section 155 of the Income-tax Act, after sub-section (20), the following sub-section shall be inserted with effect from the 1st April, 2026, namely:—

"(21) Where the arm's length price is determined in relation to an international transaction or a specified domestic transaction under sub-section (3) of section 92CA for any previous year and the Transfer Pricing Officer has declared that an option exercised by the assessee is valid under sub-section (3B) of the said section in respect of such transaction for two consecutive previous years immediately following such previous year, the Assessing Officer shall proceed to re-compute the total income of the assessee for the said two consecutive previous years, by amending the order of assessment or any intimation or deemed intimation under sub-section (1) of section 143, as the case may be,—

(a)in conformity with the arm's length price so determined by the Transfer Pricing Officer under sub-section (4A) of the said section in respect of such transaction; and
(b)taking into account the directions issued under sub-section (5) of section 144C, if any, for such previous year,

within three months from the end of the month in which the assessment is completed in the case of the assessee for such previous year, and the first and second provisos to sub-section (4) of section 92C shall apply thereto:

Provided that where the order of assessment or any intimation or deemed intimation under sub-section (1) of section 143, for the said two consecutive previous years is not made within the said three months, such re-computation shall be made within three months from the end of the month in which such order of assessment or any intimation or deemed intimation under sub-section (1) of section 143, as the case may be, is made.".

Section 47, The Finance Act, 2025 (Act 7 of 2025).

Cross-references

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

This section refers to

  1. s. 143 Amendment of section 31
  2. Income-tax Act s. 155 Other amendments

Referred to by 1

  1. s. 13 Amendment of section 47

Questions about Section 47

What does Section 47 of the Finance Act deal with?

Section 47 of the Finance Act is headed "Amendment of section 155". Amendment of section 155. 47. In section 155 of the Income-tax Act, after sub-section (20), the following sub-section shall be inserted with effect from the 1st April, 2026, namely:— "(21) Where the arm's length price is determined in relation to an international transaction or a specified domestic

How do I find court cases under Section 47 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 2025 47, section 47 Finance Act 2025, section 47 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 47 of the Finance Act, and has it changed?

Its own text turns on section 143 (Amendment of section 31), Income-tax Act 155 (Other amendments), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was Section 47 of the Finance Act enacted?

Section 47 of the Finance Act, cited as Finance Act 2025 47, was enacted on 16 Aug 2025 as Act 7 of 2025. 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.