{"act":{"id":"finance-act-2010","short_title":"The Finance Act, 2010","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2010-2011.","act_number":null,"act_year":2010,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":60,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2010/"},"unit":"section","section":{"number":"13","heading":"Amendment of section 43","text":"Amendment of section 43. 13. In section 43 of the Income-tax Act, with effect from the 1st day of April, 2011,— (a ) in clause (1), in Explanation 13, in clause (b), in sub-clause (iii), for the brackets, figures and word \"(xiii) and (xiv)\", the brackets, figures, letter and word \"(xiii), ( xiiib) and (xiv)\" shall be substituted; (b ) in clause (6), after Explanation 2B, the following Explanation shall be inserted, namely:— \" Explanation 2C.—Where in any previous year, any block of assets is transferred by a private company or unlisted public company to a limited liability partnership and the conditions specified in the proviso to clause (xiiib) of section 47 are satisfied, then, notwithstanding anything contained in clause (1), the actual cost of the block of assets in the case of the limited liability partnership shall be the written down value of the block of assets as in the case of the said company on the date of conversion of the company into the limited liability partnership.\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 43.</b></p><p><b>13.</b> In section 43 of the Income-tax Act, with effect from the 1st day of April, 2011,—</p><p>(<i>a</i> ) in clause (<i>1</i>), in <i>Explanation 13,</i> in clause (<i>b</i>), in sub-clause (<i>iii</i>), for the brackets, figures and word \"(<i>xiii</i>) and (<i>xiv</i>)\", the brackets, figures, letter and word \"(<i>xiii</i>), ( <i>xiiib</i>) and (<i>xiv</i>)\" shall be substituted;</p><p>(<i>b</i> ) in clause (<i>6</i>), after <i>Explanation 2B,</i> the following <i>Explanation</i> shall be inserted, namely:—</p><p>\" <i>Explanation 2C.</i>—Where in any previous year, any block of assets is transferred by a private company or unlisted public company to a limited liability partnership and the conditions specified in the proviso to clause (<i>xiiib</i>) of section 47 are satisfied, then, notwithstanding anything contained in clause (<i>1</i>), the actual cost of the block of assets in the case of the limited liability partnership shall be the written down value of the block of assets as in the case of the said company on the date of conversion of the company into the limited liability partnership.\".</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":175,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2010/section/13/","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."}