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TypeBare Act JurisdictionCentral Government

Finance Act, 2003 Section 60

AMENDMENT OF SECTION 132B In section 132B of the Income tax Act,-with effect from the 1st day of June, 2003,

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https://sooperkanoon.com/act/250422

Bare act section · Research

About this section

Finance Act, 2003 Section 60 is part of Finance Act, 2003 - AMENDMENT OF SECTION 132B In section 132B of the Income tax Act,-with effect from the 1st day of June, 2003,. Read the section text below and explore Indian court judgments that cite it.

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Section Text

a) in sub-section (1), in clause (i),-

(i) for the words, figures and letter "under Chapter XIV-B for the block period", the words, figures and letter "under section 153A and the assessment of the year relevant to the previous year in which search is initiated or requisition is made, or the amount of liability determined on completion of the assessment under Chapter XIV-B for the block period, as the case may be" shall be substituted; (ii)in the first proviso, for the words "Provided that where the nature and source of acquisition of any such asset is explained", the words "Provided that where the person concerned makes an application to the Assessing Officer within thirty days from the end of the month in which the asset was seized, for release of asset and the nature and source of acquisition of any such asset is explained" shall be substituted;

(b) in sub-section (4), in clause (b), for the words, figures and letter "under Chapter XIV-B", the words, figures and letters "under section 153A or under Chapter XIV -B" shall be substituted.

Frequently asked questions

What does Finance Act, 2003 Section 60 provide?

Section Section 60 of the Finance Act, 2003 (AMENDMENT OF SECTION 132B In section 132B of the Income tax Act,-with effect from the 1st day of June, 2003,) is reproduced on this page as part of the Finance Act, 2003. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Finance Act, 2003 Section 60?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 2003 Section 60. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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