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Section8
The Finance Act, 1967

Amendment of section 32

In force Act 20 of 1967 As on 15 Oct 2026

Act 20 of 1967 Ministry Finance Enacted 05 Aug 1967 Cited by 1 provision

Section 8 of the Finance Act, 1967 deals with amendment of section 32. Amendment of section 32 8. In section 32 of the Income-tax Act, in clause (2) of the Explanation to clause (iii) of sub-section (1), after the words "for the time being in force", the following words shall be added, namely:— "but does hot include a transfer, in a scheme of amalgamation, of any asset The Act was enacted on 05 Aug 1967.

Amendment of section 32

8. In section 32 of the Income-tax Act, in clause (2) of the Explanation to clause (iii) of sub-section (1), after the words "for the time being in force", the following words shall be added, namely:—

"but does hot include a transfer, in a scheme of amalgamation, of any asset by the amalgamating company to the amalgamated company where the amalgamated company is an Indian company".

[Finance (No.

2) Act, 1967]

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Section 8, The Finance Act, 1967 (Act 20 of 1967).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. s. 32 Amendment of First Schedule
  2. Income-tax Act s. 32 Depreciation

Referred to by 1

  1. s. 34 Amendment of Act 27 of 1957

Questions about Section 8

What does Section 8 of the Finance Act deal with?

Section 8 of the Finance Act is headed "Amendment of section 32". Amendment of section 32 8. In section 32 of the Income-tax Act, in clause (2) of the Explanation to clause (iii) of sub-section (1), after the words "for the time being in force", the following words shall be added, namely:— "but does hot include a transfer, in a scheme of amalgamation, of any asset

How do I find court cases under Section 8 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 1967 8, section 8 Finance Act 1967, section 8 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 8 of the Finance Act, and has it changed?

Its own text turns on section 32 (Amendment of First Schedule), Income-tax Act 32 (Depreciation), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was Section 8 of the Finance Act enacted?

Section 8 of the Finance Act, cited as Finance Act 1967 8, was enacted on 05 Aug 1967 as Act 20 of 1967. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. 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. This page is not a substitute for legal advice.