Income Tax Act, 2025
Section 7: Subs. by Act 4 of 1988, s. 2, for “Income tax” (w.e.f. 11988).
7. Subs. by Act 4 of 1988, s. 2, for “Income tax” (w.e.f. 11988).
708
1[Provided that no such application shall be made unless,—
(i) in a case where proceedings for assessment or reassessment for any of the assessment years
referred to in clause (b) of sub-section (1) of section 153A or clause (b) of sub-section (1) of section
153B in case of a person referred to in section 153A or section 153C have been initiated, the
additional amount of income-tax payable on the income disclosed in the application exceeds
fifty lakh rupees,
2[(ia) in a case where—
(A) the applicant is related to the person referred to in clause (i) who has filed an application
(hereafter in this sub-section referred to as “specified person”); and
(B) the proceedings for assessment or re-assessment for any of the assessment years referred
to in clause (b) of sub-section (1) of section 153A or clause (b) of sub-section (1) of
section 153B in case of the applicant, being a person referred to in section 153A or section 153C,
have been initiated,
the additional amount of income-tax payable on the income disclosed in the application exceeds
ten lakh rupees,]
(ii) in any other case, the additional amount of income-tax payable on the income disclosed in the
application exceeds ten lakh rupees,
and such tax and the interest thereon, which would have been paid under the provisions of this Act had
the income disclosed in the application been declared in the return of income before the Assessing Officer
on the date of application, has been paid on or before the date of making the application and the proof of
such payment is attached with the application.]
2[Explanation.—For the purposes of clause (ia),—
(a) the applicant, in relation to the specified person referred to in clause (ia), means,—
(i) where the specified person is an individual, any relative of the specified person;
(ii) where the specified person is a company, firm, association of persons or Hindu undivided
family, any director of the company, partner of the firm, or member of the association or family,
or any relative of such director, partner or member;
(iii) any individual who has a substantial interest in the business or profession of the specified
person, or any relative of such individual;
(iv) a company, firm, association of persons or Hindu undivided family having a substantial
interest in the business or profession of the specified person or any director, partner or member of
such company, firm, association or family, or any relative of such director, partner or member;
(v) a company, firm, association of persons or Hindu undivided family of which a director,
partner or member, as the case may be, has a substantial interest in the business or profession of
the specified person; or any director, partner or member of such company, firm, association or
family or any relative of such director, partner or member;
(vi) any person who carries on a business or profession,—
(A) where the specified person being an individual, or any relative of such specified
person, has a substantial interest in the business or profession of that person; or
(B) where the specified person being a company, firm, association of persons or Hindu
undivided family, or any director of such company, partner of such firm or member of the
association or family, or any relative of such director, partner or member, has a substantial
interest in the business or profession of that person;
in a case where proceedings for assessment or reassessment for any of the assessment years
referred to in clause
of sub-section
of section 153A or clause
of sub-section
of section
153B in case of a person referred to in section 153A or section 153C have been initiated, the
additional amount of income-tax payable on the income disclosed in the application exceeds
fifty lakh rupees,
2[
in a case where—
the applicant is related to the person referred to in clause
who has filed an application
(hereafter in this sub-section referred to as “specified person”); and
the proceedings for assessment or re-assessment for any of the assessment years referred
to in clause
of sub-section
of section 153A or clause
of sub-section
of
section 153B in case of the applicant, being a person referred to in section 153A or section 153C,
have been initiated,
the additional amount of income-tax payable on the income disclosed in the application exceeds
ten lakh rupees,]
in any other case, the additional amount of income-tax payable on the income disclosed in the
application exceeds ten lakh rupees,
and such tax and the interest thereon, which would have been paid under the provisions of this Act had
the income disclosed in the application been declared in the return of income before the Assessing Officer
on the date of application, has been paid on or before the date of making the application and the proof of
such payment is attached with the application.]
2[Explanation.—For the purposes of clause
the applicant, in relation to the specified person referred to in clause
where the specified person is an individual, any relative of the specified person;
where the specified person is a company, firm, association of persons or Hindu undivided
family, any director of the company, partner of the firm, or member of the association or family,
or any relative of such director, partner or member;
any individual who has a substantial interest in the business or profession of the specified
person, or any relative of such individual;
a company, firm, association of persons or Hindu undivided family having a substantial
interest in the business or profession of the specified person or any director, partner or member of
such company, firm, association or family, or any relative of such director, partner or member;
a company, firm, association of persons or Hindu undivided family of which a director,
partner or member, as the case may be, has a substantial interest in the business or profession of
the specified person; or any director, partner or member of such company, firm, association or
family or any relative of such director, partner or member;
any person who carries on a business or profession,—
where the specified person being an individual, or any relative of such specified
person, has a substantial interest in the business or profession of that person; or
where the specified person being a company, firm, association of persons or Hindu
undivided family, or any director of such company, partner of such firm or member of the
association or family, or any relative of such director, partner or member, has a substantial
interest in the business or profession of that person;