{"act":{"id":"finance-act-2015","short_title":"The Finance Act, 2015","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2015-2016.","act_number":"20","act_year":2015,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":165,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2015/"},"unit":"section","section":{"number":"34","heading":"Amendment of section 132B","text":"Amendment of section 132B. 34. In section 132B of the Income-tax Act, in sub-section (1), in clause (i), with effect from the 1st day of June, 2015, for the words \"deemed to be in default, may be recovered out of such assets\" occurring at the end, the words, brackets, figures and letter \"deemed to be in default, or the amount of liability arising on an application made before the Settlement Commission under sub-section (1) of section 245C, may be recovered out of such assets\" shall be substituted.","html":"<p><b>Amendment of section 132B.</b></p><p><b>34.</b> In section 132B of the Income-tax Act, in sub-section (1), in clause (<i>i</i>), with effect from the 1st day of June, 2015, for the words \"deemed to be in default, may be recovered out of such assets\" occurring at the end, the words, brackets, figures and letter \"deemed to be in default, or the amount of liability arising on an application made before the Settlement Commission under sub-section (1) of section 245C, may be recovered out of such assets\" shall be substituted.</p>","words":87,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2015/section/34/","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."}