Section 293B applies where any provision of the Act requires the approval of the Central Government or the Board to be obtained before a specified date. In such a case it is open to the Central Government or the Board, as the case may be, to condone, for sufficient cause, any delay in obtaining the approval.
The section is general: it applies to every approval of the Central Government or the Board that is tied to a date under any provision of the Act.
Operative consequences
A delay in obtaining such an approval does not necessarily defeat the claim that depends on it, if the delay is condoned.
Condonation requires sufficient cause.
The power is confined to approvals of the Central Government or the Board; approvals by other income-tax authorities are outside the section.
Status
Section 293B is operative for assessment year 2026-27. It is not time-limited. The Finance Act, 2026 did not amend this section.
The 1961 Act governs assessment year 2026-27 and earlier; the Income-tax Act, 2025 governs tax year 2026-27 onwards. For this subject the 2025 Act provision is s. 528.
Function in the statutory architecture
Section 293B applies where any provision of the Act requires the approval of the Central Government or the Board to be obtained before a specified date. In such a case it is open to the Central Government or the Board, as the case may be, to condone, for sufficient cause, any delay in obtaining the approval.
The section is general: it applies to every approval of the Central Government or the Board that is tied to a date under any provision of the Act.
Operative consequences
Status
Section 293B is operative for assessment year 2026-27. It is not time-limited. The Finance Act, 2026 did not amend this section.
The 1961 Act governs assessment year 2026-27 and earlier; the Income-tax Act, 2025 governs tax year 2026-27 onwards. For this subject the 2025 Act provision is s. 528.