{"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":"25","heading":"Amendment of section 50C","text":"Amendment of section 50C. 25. In section 50C of the Income-tax Act, with effect from the 1st day of October, 2009,— (a ) for the words \"or assessed\" wherever they occur, the words \"or assessed or assessable\" shall be substituted; (b ) in sub-section (2), the Explanation shall be numbered as Explanation 1 thereof and after Explanation 1 as so numbered, the following Explanation shall be inserted, namely :— ‘ Explanation 2.—For the purposes of this section, the expression \"assessable\" means the price which the stamp valuation authority would have, notwithstanding anything to the contrary contained in any other law for the time being in force, adopted or assessed, if it were referred to such authority for the purposes of the payment of stamp duty.’. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 50C.</b></p><p><b>25.</b> In section 50C of the Income-tax Act, with effect from the 1st day of October, 2009,—</p><p>(<i>a</i> ) for the words \"or assessed\" wherever they occur, the words \"or assessed or assessable\" shall be substituted;</p><p>(<i>b</i> ) in sub-section (2), the <i>Explanation</i> shall be numbered as <i>Explanation 1</i> thereof and after <i>Explanation 1</i> as so numbered, the following <i>Explanation</i> shall be inserted, namely :—</p><p>‘ <i>Explanation 2.</i>—For the purposes of this section, the expression \"assessable\" means the price which the stamp valuation authority would have, notwithstanding anything to the contrary contained in any other law for the time being in force, adopted or assessed, if it were referred to such authority for the purposes of the payment of stamp duty.’.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":131,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2009/section/25/","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."}