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Home Bare Acts Phrase: section 153bFinance Act, 2011, (Central) Section 27
Title: Amendment of Section 153b
State: Central
Year: 2011
In section 153B of the Income-tax Act, in sub-section (1), in the Explanation, with effect from the 1st day of June, 2011,-- (a) in clause (vii), for the words "by the Commissioner,", the words "by the Commissioner; or" shall be substituted; (b) after clause (vii) and before the words "shall be excluded", the following clause shall be inserted, namely:-- "(viii) the period commencing from the date on which a reference for exchange of information is made by an authority competent under an agreement referred to in section 90 or section 90A and ending with the date on which the information so requested is received by the Commissioner or a period of six months, whichever is less,".
View Complete Act List Judgments citing this sectionFinance Act 2005 Section 46
Title: Amendment of Section 153b
State: Central
Year: 2005
In section 153B of the income-tax Act, in sub-section (1), after clause (b) and before the Explanation, the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of June, 2003, namely:-- "Provided that in case of other person referred to in section 153C, the period of limitation for making the assessment or reassessment shall be the period as referred to in clause (a) or clause (b) of this sub-section or one year from the end of the financial year in which books of account or documents or assets seized or requisitioned are handed over under section 153C to the Assessing Officer having jurisdiction over such other person, whichever is later.".
View Complete Act List Judgments citing this sectionFinance Act, 2006 Section 38
Title: Amendment of Section 153b
State: Central
Year: 2006
In section 153B of the Income-tax Act, in sub-section (1), after the proviso, the following proviso shall be inserted with effect from the 1st day of June, 2006, namely:-- 'Provided further that in the case where the last of the authorisations for search under section 132 or for requisition under section 132A was executed during the financial year commencing on the 1st day of April, 2004 or any subsequent financial year,-- (i) the provisions of clause (a) or clause (b) of this sub-section shall have effect as if for the words "two years" the words "twenty-one months" had been substituted; (ii) the period of limitation for making the assessment or re-assessment in case of other person referred to in section 153C, shall be the period of twenty-one months from the end of the financial year in which the last of the authorisations for search under section 132 or for requisition under section 132A was executed or nine months from the end of the financial year in which books of account or documents or assets seized or requisitioned are handed over under section 153C to the Assessing Officer having jurisdiction over such other person, whichever is later.'.
View Complete Act List Judgments citing this sectionFinance (No. 2) Act, 2004 Section 36
Title: Amendment of Section 153b
State: Central
Year: 2004
In section 153B of the Income-tax Act, in sub-section (1), in the Explanation, with effect from the 1st day of October, 2004,-- (a) in clause (iv), for the words "that section,", the words "that section, or" shall be substituted; (b) after clause (iv) and before the words "shall be excluded", the following clauses shall be inserted, namely:-- "(v) the period commencing from the date on which an application is made before the Authority for Advance Rulings under sub-section (1) of section 245Q and ending with the date on which the order rejecting the application is received by the Commissioner under sub-section (3) of section 245R, or (vi) the period commencing from the date on which an application is made before the Authority for Advance Rulings under sub-section (1) of section 245Q and ending with the date on which the advance ruling pronounced by it is received by the Commissioner under sub-section (7) of section 245R,".
View Complete Act List Judgments citing this sectionFinance Act 2007 Section 49
Title: Amendment of Section 153b
State: Central
Year: 2007
In section 153B of the Income-tax Act, in sub-section (1), after the second proviso and before the Explanation, the following provisos shall be inserted with effect from the 1st day of June, 2007, namely:-- 'Provided also that in case where the last of the authorisations for search under section 132 or for requisition under section 132A was executed during the financial year commencing on the 1st day of April, 2005 or any subsequent financial year and during the course of the proceedings for the assessment or reassessment of total income, a reference under sub-section (1) of section 92CA-- (i) was made before the. 1st day of June, 2007 but an order under subsection (5) of section 92CA has not been made before such date; or (ii) is made on or after the 1st day of June, 2007, the provisions of clause (a) or clause (b) of this sub-section shall, notwithstanding anything contained in clause (i) of the second proviso, have effect as if for the words "two years", the words "thirty-three months" had been substituted: Provided also that in case where the last of the authorisations for search under section 132 or for requisition under section 132A was executed during the.....
View Complete Act List Judgments citing this sectionFinance Act, 2012, (Central) Section 65
Title: Amendment of Section 153b
State: Central
Year: 2012
.....or any subsequent financial year and during the course of the proceedings for the assessment or reassessment of total income, a reference under sub-section (1) of section 92CA-- (i) was made before the 1st day of July, 2012, but an order under sub-section (3) of section 92CA has not been made before such date; or (ii) is made on or after the 1st day of July, 2012, the provisions of clause (a) or clause (b) of this sub-section, shall, notwithstanding anything contained in clause (i) of the second proviso, have effect as if for the words "two years", the words "three years" had been substituted.'. (iv) in the fourth proviso for the words, figures and letters "on the 1st day of April, 2005 or any subsequent financial year", the words, figures and letters "on or after the 1st day of April, 2005 but before the 1st day of April, 2009" shall be substituted; (v) after the fourth proviso, the following proviso shall be inserted, namely:-- "Provided also that in case where the last of the authorisations for search under section 132 or for requisition under section 132A was executed during the financial year commencing on the 1st day of April, 2009 or any subsequent financial.....
View Complete Act List Judgments citing this sectionFinance Act 2008 Section 35
Title: Amendment of Section 153
State: Central
Year: 2008
.....been inserted with effect from the 1st day of June, 2003, namely:-- (4) Notwithstanding anything contained in the foregoing provisions of this section, sub-section (2) of section 153A and sub-section (1) of section 153B, the order of assessment or reassessment, relating to any assessment year, which stands revived under sub-section (2) of section 153A, shall be made within one year from the end of the month of such revival or within the period specified in this section or sub-section (1) of section 153B, whichever is later.; (b) in Explanation 1, after the proviso, the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of June, 2007, namely:-- Provided further that where a proceeding before the Settlement Commission abates under section 245HA, the period of limitation available under this section to the Assessing Officer for making an order of assessment, reassessment or re-computation, as the case may be, shall, after the exclusion of the period under sub-section (4) of section 245HA, be not less than one year; and where such period of limitation is less than one year, it shall be deemed to have been extended to.....
View Complete Act List Judgments citing this sectionFinance Act, 2003 Section 65
Title: Insertion of New Sections 153a, 153b and 153c
State: Central
Year: 2003
.....as the case may be, shall abate. Explanation.-For the removal of doubts, it is hereby declared that,- (i) save as otherwise provided in this section, section 153B and section 153C, all other provisions of this Act shall apply to the assessment made under this section; (ii) in an assessment or reassessment made in respect of an assessment year under this section, the tax shall be chargeable at the rate or rates as applicable to such assessment year. 153B. Time-limit for completion of assessment under section 153A.-- (1) Notwithstanding anything contained in section 153, the Assessing Officer shall make an order of assessment or reassessment,-- (a) in respect of each assessment year falling within six assessment years referred to in clause (b) of section 153A, within a period of two years from the end of the financial year in which the last of the authorisations for search under section 132 or for requisition under section 132A was executed; (b) in respect of the assessment year relevant to the previous year in which search is conducted under section 132 or requisition is made under section 132A, within a period of two years from the end of the financial year in.....
View Complete Act List Judgments citing this sectionFinance Act, 2012, (Central) Section 60
Title: Amendment of Section 144c
State: Central
Year: 2012
In section 144C of the Income-tax Act,-- (a) in sub-section (4), for the words and figures "in section 153", the words, figures and letter "in section 153 or section 153B" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of October, 2009; (b) after sub-section (8), the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2009, namely:-- "Explanation.--For the removal of doubts, it is hereby declared that the power of the Dispute Resolution Panel to enhance the variation shall include and shall be deemed always to have included the power to consider any matter arising out of the assessment proceedings relating to the draft order, notwithstanding that such matter was raised or not by the eligible assessee."; (c) in sub-section (13), for the words and figures "in section 153", the words, figures and letter "in section 153 or section 153B" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of October, 2009; (d) after sub-section (14), the following sub-section shall be inserted with effect from the 1st day of April,.....
View Complete Act List Judgments citing this sectionFinance Act, 2012, (Central) Section 39
Title: Insertion of New Sections 92cc and 92cd
State: Central
Year: 2012
.....of the said person and the said transaction. (6) The agreement referred to in sub-section (1) shall not be binding if there is a change in law or facts having bearing on the agreement so entered. (7) The Board may, with the approval of the Central Government, by an order, declare an agreement to be void ab initio, if it finds that the agreement has been obtained by the person by fraud or misrepresentation of facts. (8) Upon declaring the agreement void ab initio,-- (a) all the provisions of the Act shall apply to the person as if such agreement had never been entered into; and (b) notwithstanding anything contained in the Act, for the purpose of computing any period of limitation under this Act, the period beginning with the date of such agreement and ending on the date of order under sub-section (7) shall be excluded: Provided that where immediately after the exclusion of the aforesaid period, the period of limitation, referred to in any provision of this Act, is less than sixty days, such remaining period shall be extended to sixty days and the aforesaid period of limitation shall be deemed to be extended accordingly. (9) The Board may, for the purposes of this.....
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