{"act":{"id":"finance-act-2009","short_title":"The Finance Act, 2009","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2009-2010.","act_number":null,"act_year":2009,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":89,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2009/"},"unit":"section","section":{"number":"24","heading":"Amendment of section 50B","text":"Amendment of section 50B. 24. In section 50B of the Income-tax Act, in Explanation 2 with effect from the 1st day of April, 2010,— (i ) in clause (a),  the word \"and\" occurring at the end shall be omitted; (ii ) for clause (b), the following clauses shall be substituted, namely:— \"(b) in the case of capital assets in respect of which the whole of the expenditure has been allowed or is allowable as a deduction under section 35AD, nil; and (c) in the case of other assets, the book value of such assets.\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 50B.</b></p><p><b>24.</b> In section 50B of the Income-tax Act, in <i>Explanation 2</i> with effect from the 1st day of April, 2010,—</p><p>(<i>i</i> ) in clause (<i>a</i>), <i> </i>the word \"and\" occurring at the end shall be omitted;</p><p>(<i>ii</i> ) for clause (<i>b</i>), the following clauses shall be substituted, namely:—</p><p>\"(<i>b</i>) in the case of capital assets in respect of which the whole of the expenditure has been allowed or is allowable as a deduction under section 35AD, <i>nil;</i> and</p><p>(<i>c</i>) in the case of other assets, the book value of such assets.\".</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":100,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2009/section/24/","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."}