Income Tax Act, 2025
Section 5: Ins. by Act 20 of 2002, s. 60 (w.e.f. 12003).
5. Ins. by Act 20 of 2002, s. 60 (w.e.f. 12003).
6. Subs. by Act 14 of 2010, s. 34, for “scientific research association” (w.e.f. 12011).
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(ii) the approval granted to such 1[research association] or other association 2[or fund or trust] or
institution or university or other educational institution or hospital or other medical institution has
been withdrawn or notification issued in respect of such news agency or fund or trust or institution
has been rescinded:]
3[Provided further that where the Assessing Officer is satisfied that the activities of the university,
college or other institution referred to in clause (ii) and clause (iii) of sub-section (1) of section 35 are
not being carried out in accordance with all or any of the conditions subject to which such university,
college or other institution was approved, he may, after giving a reasonable opportunity of showing
cause against the proposed withdrawal to the concerned university, college or other institution,
recommend to the Central Government to withdraw the approval and that Government may by order,
withdraw the approval and forward a copy of the order to the concerned university, college or other
institution and the Assessing Officer:]
4[Provided also that notwithstanding anything contained in the first and the second provisos, no
effect shall be given by the Assessing Officer to the provisions of clause (23C) of section 10 in the
case of a trust or institution for a previous year, if the provisions of the first proviso to clause (15) of
section 2 become applicable in the case of such person in such previous year, whether or not the
approval granted to such trust or institution or notification issued in respect of such trust or institution
has been withdrawn or rescinded.]
5[(3A) The Central Government may make a scheme, by notification in the Official Gazette, for the
purposes of making assessment of total income or loss of the assessee under sub-section (3) so as to
impart greater efficiency, transparency and accountability by––
(a) eliminating the interface between the Assessing Officer and the assessee in the course of
proceedings to the extent technologically feasible;
(b) optimising utilisation of the resources through economies of scale and functional
specialisation;
(c) introducing a team-based assessment with dynamic jurisdiction.
(3B) The Central Government may, for the purpose of giving effect to the scheme made under subsection (3A), by notification in the Official Gazette, direct that any of the provisions of this Act relating to
assessment of total income or loss shall not apply or shall apply with such exceptions, modifications and
adaptations as may be specified in the notification: Provided that no direction shall be issued after the 31st
day of March, 2020.
(3C) Every notification issued under sub-section (3A) and sub-section (3B) shall, as soon as may be
after the notification is issued, be laid before each House of Parliament.]
6[(4) Where a regular assessment under sub-section (3) of this section or section 144 is made,—
(a) any tax or interest paid by the assessee under sub-section (1) shall be deemed to have been
paid towards such regular assessment;
(b) if no refund is due on regular assessment or the amount refunded under sub-section (1)
exceeds the amount refundable on regular assessment, the whole or the excess amount so refunded
shall be deemed to be tax payable by the assessee and the provisions of this Act shall apply
accordingly.
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1. Subs. by Act 14 of 2010, s. 34, for “scientific research association” (w.e.f. 12011).
the approval granted to such 1[research association] or other association 2[or fund or trust] or
institution or university or other educational institution or hospital or other medical institution has
been withdrawn or notification issued in respect of such news agency or fund or trust or institution
has been rescinded:]
3[Provided further that where the Assessing Officer is satisfied that the activities of the university,
college or other institution referred to in clause
and clause
of sub-section
of section 35 are
not being carried out in accordance with all or any of the conditions subject to which such university,
college or other institution was approved, he may, after giving a reasonable opportunity of showing
cause against the proposed withdrawal to the concerned university, college or other institution,
recommend to the Central Government to withdraw the approval and that Government may by order,
withdraw the approval and forward a copy of the order to the concerned university, college or other
institution and the Assessing Officer:]
4[Provided also that notwithstanding anything contained in the first and the second provisos, no
effect shall be given by the Assessing Officer to the provisions of clause
of section 10 in the
case of a trust or institution for a previous year, if the provisions of the first proviso to clause
of
section 2 become applicable in the case of such person in such previous year, whether or not the
approval granted to such trust or institution or notification issued in respect of such trust or institution
has been withdrawn or rescinded.]
5[
The Central Government may make a scheme, by notification in the Official Gazette, for the
purposes of making assessment of total income or loss of the assessee under sub-section
so as to
impart greater efficiency, transparency and accountability by––
eliminating the interface between the Assessing Officer and the assessee in the course of
proceedings to the extent technologically feasible;
optimising utilisation of the resources through economies of scale and functional
specialisation;
introducing a team-based assessment with dynamic jurisdiction.
The Central Government may, for the purpose of giving effect to the scheme made under subsection
Every notification issued under sub-section
and sub-section
shall, as soon as may be
after the notification is issued, be laid before each House of Parliament.]
6[
Where a regular assessment under sub-section
of this section or section 144 is made,—
any tax or interest paid by the assessee under sub-section
shall be deemed to have been
paid towards such regular assessment;
if no refund is due on regular assessment or the amount refunded under sub-section
exceeds the amount refundable on regular assessment, the whole or the excess amount so refunded
shall be deemed to be tax payable by the assessee and the provisions of this Act shall apply
accordingly.
7* * * * *]
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1. Subs. by Act 14 of 2010, s. 34, for “scientific research association” (w.e.f. 12011).