{"act":{"id":"finance-act-1975","short_title":"The Finance Act, 1975","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 1975-1976.","act_number":"25","act_year":1975,"enact_date":"1975-05-09","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":31,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-1975/"},"unit":"section","section":{"number":"9","heading":"Amendment of section 52","text":"Amendment of section 52 9. In section 52 of the Income-tax Act, in sub-section (2), the follow- Amending proviso shall be inserted, and shall be deemed to have been inserted, ment of with effect from the 1st day of April, 1974, namely:— \"Provided that this sub-section shall not apply in any case— (a) where the capital asset is transferred to the Government, or (b) where the full value of the consideration for the transfer of the capital asset is determined or approved by the Central Government or the Reserve Bank of India and the adequacy of the full value of the consideration so determined or approved is not questioned by the assessee.\". [Finance Act, 1975] © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 52</b></p><p><b>9.</b> In section 52 of the Income-tax Act, in sub-section (<i>2</i>), the follow- Amending proviso shall be inserted, and shall be deemed to have been inserted, ment of with effect from the 1st day of April, 1974, namely:—</p><p>\"Provided that this sub-section shall not apply in any case—</p><p>(<i>a</i>) where the capital asset is transferred to the Government, or</p><p>(<i>b</i>) where the full value of the consideration for the transfer of the capital asset is determined or approved by the Central Government or the Reserve Bank of India and the adequacy of the full value of the consideration so determined or approved is not questioned by the assessee.\".</p><p>[Finance Act, 1975]</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":121,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-1975/section/9/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}