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This is only a renumbering — Section 263 of ITA 1961 is now Section 377 of ITA 2025. The legal position is unchanged. Existing judicial precedents continue to apply. No action required beyond updating section references in filings from AY 2026-27 onwards.
Section 263: CIT may revise order of AO if erroneous and prejudicial to revenue. Two conditions must be satisfied.
Section 377: Revision of orders prejudicial to revenue. Twin conditions unchanged.
Renumbered from 263 to 377. No change.
Only renumbering; substantive law unchanged. Existing judicial precedents continue to apply.
The compliance process has changed — timelines or procedures may differ. The substantive law remains the same, but you should update your filing procedures for AY 2026-27 onwards.
Section 139 (1961 Act — AY 2026-27): 31 July 2026 — Other taxpayers (non-audit, no business/profession); 31 August 2026 — Non-audit business / profession cases and qualifying partners; 21 November 2026 — Covered companies, audit cases and qualifying partners (Table Sl. 2); 30 November 2026 — Transfer-pricing report cases. Belated return by 31 December 2026; revised return by 31 March 2027 (or before assessment completes, if earlier). Base dates: Explanation 2 to s.139(1), as amended by Finance Act 2026. For Table Sl. 2 taxpayers only, CBDT Circular No. 07/2026 dated 28 Sep 2026 extends the 31 October return deadline to 21 November 2026; consequently the 30 September tax-audit report deadline becomes 21 October 2026. CBDT Circular No. 07/2026 dated 28 September 2026 formally grants this extension. The e-Filing portal posted it on 29 September 2026; the circular was source-checked on 2 October 2026. Updated-return rules were not re-checked.
Section 263 (2025 Act, as amended by Finance Act 2026; from Tax Year 2026-27): 263(1)(c) due-date table — 31 July / 31 August / 31 October / 30 November, subject to exact conditions. Belated return within 9 months from end of the tax year (263(4), retained); revised return within 12 months, or before assessment completes if earlier (263(5), amended).
139 → 263. For AY 2026-27 the old-Act dates were amended by Finance Act 2026 (non-audit business/profession: 31 Aug; revised: 31 Mar 2027). Under s.263 the revised window was amended to 12 months; the 9-month belated window was retained. Other sub-rules: not checked.
Compliance process, forms, or timelines changed; substantive rights/obligations unaffected.