Income Tax Act, 2025
Section 6: Ins. by Act 7 of 2017, s. 63 (w.e.f. 12018).
6. Ins. by Act 7 of 2017, s. 63 (w.e.f. 12018).
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Provided that the credit of tax which was under dispute shall be allowed for the year in which such
income is offered to tax or assessed to tax in India:]
(15) Where in the assessment for any year, a capital gain arising from the transfer of a capital asset,
being land or building or both, is computed by taking the full value of the consideration received or
accruing as a result of the transfer to be the value adopted or assessed by any authority of a State
Government for the purpose of payment of stamp duty in accordance with sub-section (1) of section 50C,
and subsequently such value is revised in any appeal or revision or reference referred to in clause (b) of
sub-section (2) of that section, the Assessing Officer shall amend the order of assessment so as to
compute the capital gain by taking the full value of the consideration to be the value as so revised in such
appeal or revision or reference; and the provisions of section 154 shall, so far as may be, apply thereto,
and the period of four years shall be reckoned from the end of the previous year in which the order
revising the value was passed in that appeal or revision or reference.]
1[(16) Where in the assessment for any year, a capital gain arising from the transfer of a capital asset,
being a transfer by way of compulsory acquisition under any law, or a transfer, the consideration for
which was determined or approved by the Central Government or the Reserve Bank of India, is computed
by taking the compensation or consideration as referred to in clause (a) or, as the case may be, the
compensation or consideration enhanced or further enhanced as referred to in clause (b) of sub-section (5)
of section 45, to be the full value of consideration deemed to be received or accruing as a result of the
transfer of the asset and subsequently such compensation or consideration is reduced by any court,
Tribunal or other authority, the Assessing Officer shall amend the order of assessment so as to compute
the capital gain by taking the compensation or consideration as so reduced by the court, Tribunal or any
other authority to be the full value of consideration; and the provisions of section 154 shall, so far as may
be, apply thereto, and the period of four years shall be reckoned from the end of the previous year in
which the order reducing the compensation was passed by the court, Tribunal or other authority.
(17) Where a deduction has been allowed to an assessee in any assessment year under section 80RRB
in respect of any patent, and subsequently by an order of the Controller or the High Court under the
Patents Act, 1970 (39 of 1970),—
(i) the patent was revoked, or
(ii) the name of the assessee was excluded from the patents register as patentee in respect of that
patent,
the deduction from the income by way of royalty attributable to the period during which the patent had
been revoked or the period for which the assessee’s name was excluded as patentee in respect of that
patent, shall be deemed to have been wrongly allowed and the Assessing Officer may, notwithstanding
anything contained in this Act, recompute the total income of the assessee for the relevant previous year
and make necessary amendment; and the provisions of section 154 shall, so far as may be, apply thereto,
the period of four years specified in sub-section (7) of that section being reckoned from the end of the
previous year in which such order of the Controller referred to in clause (b) of sub-section (1), or the High
Court referred to in clause (i) of sub-section (1) of section 2, of the Patents Act, 1970 (39 of 1970), as the
case may be, was passed.]
2[Explanation.—For the purposes of this section,—
(a) “additional compensation” shall have the meaning assigned to it in clause (1) of
the Explanation to sub-section (2) of section 54;
(b) “additional consideration”, in relation to the transfer of any capital asset the consideration for
which was determined or approved by the Central Government or the Reserve Bank of India, means
the difference between the amount of consideration for such transfer as enhanced by any court,
tribunal or other authority and the amount of consideration which would have been payable if such
enhancement had not been made.]
Where in the assessment for any year, a capital gain arising from the transfer of a capital asset,
being land or building or both, is computed by taking the full value of the consideration received or
accruing as a result of the transfer to be the value adopted or assessed by any authority of a State
Government for the purpose of payment of stamp duty in accordance with sub-section
of section 50C,
and subsequently such value is revised in any appeal or revision or reference referred to in clause
of
sub-section
of that section, the Assessing Officer shall amend the order of assessment so as to
compute the capital gain by taking the full value of the consideration to be the value as so revised in such
appeal or revision or reference; and the provisions of section 154 shall, so far as may be, apply thereto,
and the period of four years shall be reckoned from the end of the previous year in which the order
revising the value was passed in that appeal or revision or reference.]
1[
Where in the assessment for any year, a capital gain arising from the transfer of a capital asset,
being a transfer by way of compulsory acquisition under any law, or a transfer, the consideration for
which was determined or approved by the Central Government or the Reserve Bank of India, is computed
by taking the compensation or consideration as referred to in clause
or, as the case may be, the
compensation or consideration enhanced or further enhanced as referred to in clause
of sub-section
of section 45, to be the full value of consideration deemed to be received or accruing as a result of the
transfer of the asset and subsequently such compensation or consideration is reduced by any court,
Tribunal or other authority, the Assessing Officer shall amend the order of assessment so as to compute
the capital gain by taking the compensation or consideration as so reduced by the court, Tribunal or any
other authority to be the full value of consideration; and the provisions of section 154 shall, so far as may
be, apply thereto, and the period of four years shall be reckoned from the end of the previous year in
which the order reducing the compensation was passed by the court, Tribunal or other authority.
Where a deduction has been allowed to an assessee in any assessment year under section 80RRB
in respect of any patent, and subsequently by an order of the Controller or the High Court under the
Patents Act, 1970 (39 of 1970),—
the patent was revoked, or
the name of the assessee was excluded from the patents register as patentee in respect of that
patent,
the deduction from the income by way of royalty attributable to the period during which the patent had
been revoked or the period for which the assessee’s name was excluded as patentee in respect of that
patent, shall be deemed to have been wrongly allowed and the Assessing Officer may, notwithstanding
anything contained in this Act, recompute the total income of the assessee for the relevant previous year
and make necessary amendment; and the provisions of section 154 shall, so far as may be, apply thereto,
the period of four years specified in sub-section
of that section being reckoned from the end of the
previous year in which such order of the Controller referred to in clause
of sub-section
of sub-section
of section 2, of the Patents Act, 1970 (39 of 1970), as the
case may be, was passed.]
2[Explanation.—For the purposes of this section,—
“additional compensation” shall have the meaning assigned to it in clause
of
the Explanation to sub-section
of section 54;
“additional consideration”, in relation to the transfer of any capital asset the consideration for
which was determined or approved by the Central Government or the Reserve Bank of India, means
the difference between the amount of consideration for such transfer as enhanced by any court,
tribunal or other authority and the amount of consideration which would have been payable if such
enhancement had not been made.]