{"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":"69","heading":"Amendment of section 269T","text":"Amendment of section 269T. 69. In section 269T of the Income-tax Act, with effect from the 1st day of June, 2015,— (A) | in the opening portion— (a) | after the words \"repay any loan or deposit made with it\", the words \"or any specified advance received by it\" shall be inserted; (b) | after the words \"made the loan or deposit\", the words \"or paid the specified advance,\" shall be inserted; (B) | in clause (a), after the words \"loan or deposit\", the words \"or specified advance\" shall be inserted; (C) | in clause (b), the word \"or\" shall be inserted at the end; (D) | after clause (b)and before the long line, the following clause shall be inserted, namely:— \"(c) | the aggregate amount of the specified advances received by such person either in his own name or jointly with any other person on the date of such repayment together with the interest, if any, payable on such specified advances,\"; (E) | in the second proviso, after the words \"any loan or deposit\", the words \"or specified advance\" shall be inserted; (F) | in the Explanation, after clause (iii), the following clause shall be inserted, namely:— '(iv) | \"specified advance\" means any sum of money in the nature of advance, by whatever name called, in relation to transfer of an immovable property, whether or not the transfer takes place.'.","html":"<p><b> Amendment of section 269T.</b></p><p><b> 69.</b> In section 269T of the Income-tax Act, with effect from the 1st day of June, 2015,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>A</i>)</td><td></td><td>in the opening portion—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>after the words \"repay any loan or deposit made with it\", the words \"or any specified advance received by it\" shall be inserted;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>after the words \"made the loan or deposit\", the words \"or paid the specified advance,\" shall be inserted;</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>B</i>)</td><td></td><td>in clause (<i>a</i>), after the words \"loan or deposit\", the words \"or specified advance\" shall be inserted;</td></tr><tr><td>(<i>C</i>)</td><td></td><td>in clause (<i>b</i>)<i>,</i> the word \"or\" shall be inserted at the end;</td></tr><tr><td>(<i>D</i>)</td><td></td><td>after clause (<i>b</i>)and before the long line, the following clause shall be inserted, namely:—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>\"(<i>c</i>)</td><td></td><td>the aggregate amount of the specified advances received by such person either in his own name or jointly with any other person on the date of such repayment together with the interest, if any, payable on such specified advances,\";</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>E</i>)</td><td></td><td>in the second proviso, after the words \"any loan or deposit\", the words \"or specified advance\" shall be inserted;</td></tr><tr><td>(<i>F</i>)</td><td></td><td>in the <i>Explanation,</i> after clause (<i>iii</i>), the following clause shall be inserted, namely:—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>'(<i>iv</i>)</td><td></td><td>\"specified advance\" means any sum of money in the nature of advance, by whatever name called, in relation to transfer of an immovable property, whether or not the transfer takes place.'.</td></tr></table></div>","words":231,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2015/section/69/","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."}