{"act":{"id":"finance-act-2019-no-2","short_title":"The Finance Act, 2019 (No. 2)","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2019-2020.","act_number":null,"act_year":2019,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":217,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2019-no-2/"},"unit":"section","section":{"number":"173","heading":"Amendment of section 23","text":"PART VIII AMENDMENTS TO THE PROHIBITION OF BENAMI PROPERTY TRANSACTIONS ACT, 1988 Amendment of section 23 173. In the Prohibition of Benami Property Transactions Act, 1988 (45 of 1988) (hereafter in this Part referred to as the principal Act), in section 23, the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of November, 2016, namely:— \"Explanation.—For the removal of doubts, it is hereby clarified that nothing contained in this section shall apply and shall be deemed to have ever applied where a notice under sub-section (1) of section 24 has been issued by the Initiating Officer.\".","html":"<p><i><b>PART VIII</b></i></p><p><b>AMENDMENTS TO THE PROHIBITION OF BENAMI PROPERTY TRANSACTIONS ACT, 1988</b></p><p><b><b>Amendment of section 23</b></b></p><p><b><b>173</b>.</b> In the Prohibition of <i>Benami</i> Property Transactions Act, 1988 (45 of 1988) (hereafter in this Part referred to as the principal Act), in section 23, the following <i>Explanation </i>shall be inserted and shall be deemed to have been inserted with effect from the 1st day of November, 2016, namely:—</p><p>\"<i>Explanation</i>.—For the removal of doubts, it is hereby clarified that nothing contained in this section shall apply and shall be deemed to have ever applied where a notice under sub-section (1) of section 24 has been issued by the Initiating Officer.\".</p>","words":107,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2019-no-2/section/173/","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."}