{"act":{"id":"finance-act-1999","short_title":"The Finance Act, 1999","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 1999-2000.","act_number":null,"act_year":1999,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":102,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-1999/"},"unit":"section","section":{"number":"15","heading":"Amendment of section 35","text":"Amendment of section 35. 15. In section 35 of the Income-tax Act, with effect from the 1st day of April, 2000,— (a ) in sub-section (1),— (i) in clause (ii),— (A) for the words \"any sum paid\", the words \"an amount equal to one and one-fourth times of any sum paid\" shall be substituted; (B) in the proviso, for the words \"prescribed authority\", the words \"Central Government\" shall be substituted; (ii) in clause (iii),— (A) for the words \"any sum paid\", the words \"an amount equal to one and one-fourth times of any sum paid\" shall be substituted; (B) in the proviso, for the words \"prescribed authority\", the words \"Central Government\" shall be substituted; (iii) after clause (iv), in the first proviso, second proviso and third proviso, for the words \"prescribed authority\", wherever they occur, the words \"Central Government\" shall be substituted; (b ) in sub-section (2AB), in clause (5), for the figures \"2000\", the figures \"2005\" shall be substituted; (c ) for sub-section (3), the following sub-section shall be substituted, namely :— \"(3) If any question arises under this section as to whether, and if so, to what extent, any activity constitutes or constituted, or any asset is or was being used for, scientific research, the Board shall refer the question to— (a) the Central Government, when such question relates to any activity under clauses (ii) and (iii) of sub-section (1), and its decision shall be final; (b) the prescribed authority, when such question relates to any activity other than the activity specified in clause (a), whose decision shall be final.\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 35.</b></p><p><b>15.</b> In section 35 of the Income-tax Act, with effect from the 1st day of April, 2000,—</p><p>(<i>a</i> ) in sub-section (1),—</p><p>(<i>i</i>) in clause (<i>ii</i>),—</p><p>(<i>A</i>) for the words \"any sum paid\", the words \"an amount equal to one and one-fourth times of any sum paid\" shall be substituted;</p><p>(<i>B</i>) in the proviso, for the words \"prescribed authority\", the words \"Central Government\" shall be substituted;</p><p>(<i>ii</i>) in clause (<i>iii</i>),—</p><p>(<i>A</i>) for the words \"any sum paid\", the words \"an amount equal to one and one-fourth times of any sum paid\" shall be substituted;</p><p>(<i>B</i>) in the proviso, for the words \"prescribed authority\", the words \"Central Government\" shall be substituted;</p><p>(<i>iii</i>) after clause (<i>iv</i>), in the first proviso, second proviso and third proviso, for the words \"prescribed authority\", wherever they occur, the words \"Central Government\" shall be substituted;</p><p>(<i>b</i> ) in sub-section (2AB), in clause (<i>5</i>), for the figures \"2000\", the figures \"2005\" shall be substituted;</p><p>(<i>c</i> ) for sub-section (3), the following sub-section shall be substituted, namely :—</p><p>\"(3) If any question arises under this section as to whether, and if so, to what extent, any activity constitutes or constituted, or any asset is or was being used for, scientific research, the Board shall refer the question to—</p><p>(<i>a</i>) the Central Government, when such question relates to any activity under clauses (<i>ii</i>) and (<i>iii</i>) of sub-section (1), and its decision shall be final;</p><p>(<i>b</i>) the prescribed authority, when such question relates to any activity other than the activity specified in clause (<i>a</i>), whose decision shall be final.\".</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":268,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-1999/section/15/","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."}