Amendment of section 471
Section 107 of the Finance Act, 2026 deals with amendment of section 471. Amendment of section 471. 107. In section 471 of the Income-tax Act,— (a) | in sub-section (1), after the words "reasonable opportunity of being heard", the words "by way of a show cause notice to that effect" shall be inserted;
Amendment of section 471.
107. In section 471 of the Income-tax Act,—
(a) in sub-section (1), after the words "reasonable opportunity of being heard", the words "by way of a show cause notice to that effect" shall be inserted; (b) after sub-section (5), the following sub-sections shall be inserted, namely:— "(4) Irrespective of anything contained in any other provision of this Act, where any draft of the proposed order of assessment under section 275 or assessment under section 270 or reassessment under section 279 is made on or after the 1st April, 2027,—
(a) penalty under section 439, if any, shall constitute part of such draft assessment or shall be imposed as a part of such order of assessment or reassessment, as the case may be; and (b) the reference to the assessment order or the penalty order under section 439 in any of the provisions of this Act shall take reference to such order of assessment or reassessment, as the case may be. Section 107, The Finance Act, 2026 (Act 4 of 2026).
(5) Where the approval of the Joint Commissioner is taken for passing of an order of assessment or reassessment on or after the 1st April, 2027, such approval shall also be deemed to be the approval for the imposition of penalty under section 439, if any, constituting part of such order of assessment or reassessment.".
Questions about Section 107
What does Section 107 of the Finance Act deal with?
Section 107 of the Finance Act is headed "Amendment of section 471". Amendment of section 471. 107. In section 471 of the Income-tax Act,— (a) | in sub-section (1), after the words "reasonable opportunity of being heard", the words "by way of a show cause notice to that effect" shall be inserted;
How do I find court cases under Section 107 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 2026 107, section 107 Finance Act 2026, section 107 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
When was the Finance Act enacted?
Finance Act was enacted in 2026 as Act 4 of 2026. 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. -11686 words
- 3. Income-tax under Act 30 of 20258033 words
- Fourth Schedule. -4078 words
- 2. Income-tax under Act 43 of 19612736 words
- 26. Substitution of new sections for sections 276B, 276BB, 276C, 276CC, 276CCC and 276D1437 words
- Fifth Schedule. -1363 words
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