{"act":{"id":"finance-act-2014","short_title":"The Finance Act, 2014","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2014-2015.","act_number":"25","act_year":2014,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":129,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2014/"},"unit":"section","section":{"number":"25","heading":"Amendment of section 56","text":"Amendment of section 56. 25. In section 56 of the Income-tax Act, in sub-section (2), after clause (viii), the following clause shall be inserted with effect from the 1st day of April, 2015, namely:— \"(ix) | any sum of money received as an advance or otherwise in the course of negotiations for transfer of a capital asset, if,— (a) | such sum is forfeited; and (b) | the negotiations do not result in transfer of such capital asset.\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b> Amendment of section 56.</b></p><p><b> 25.</b> In section 56 of the Income-tax Act, in sub-section (2), after clause (<i>viii</i>), the following clause shall be inserted with effect from the 1st day of April, 2015, namely:—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>\"(<i>ix</i>)</td><td></td><td>any sum of money received as an advance or otherwise in the course of negotiations for transfer of a capital asset, if,—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>such sum is forfeited; and</td></tr><tr><td>(<i>b</i>)</td><td></td><td>the negotiations do not result in transfer of such capital asset.\".</td></tr></table></div><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":84,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2014/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."}