Amendment of section 230A

Q: When was Section 27 of the Finance Act enacted?

Section 27 of the Finance Act, cited as Finance Act 1971 27, was enacted on 10 Aug 1971 as Act 32 of 1971. It is in force as at the date shown on this page.

In force Act 32 of 1971 As on 18 Oct 2026

Act 32 of 1971 Ministry Finance Enacted 10 Aug 1971

Section 27 of the Finance Act, 1971 deals with amendment of section 230A. Amendment of section 230A. 27. In section 230A of the Income-tax Act, with effect' from the 1st day of October, 1971,— (a) in sub-section (1),— (i) the brackets and words "(other than agricultural land)" shall be omitted; The Act was enacted on 10 Aug 1971.

Amendment of section 230A.
27. In section 230A of the Income-tax Act, with effect' from the 1st day of October, 1971,—
(a) in sub-section (1),—
(i) the brackets and words "(other than agricultural land)" shall be omitted;
(ii) in clause (a), fox the. words and figures "and the Gift-tax Act, 1958 (18 of 1958)", the words, figures arid brackets "the Gift-tax Act, 1958, the Super Profits Tax Act, 1963 (14 of 1963), and the Companies (Profits) Surtax Act, 1964 (7 of 1964)" shall be substituted;
(b) after sub-section (2), the following sub-section shall be in-serted, namely:-
"(3) The provisions of sub-section (1) shall not apply in a case where the person referred to in that sub-section is any such institution, association or body, or belongs to any such class of institutions, associations or bodies, as the Board may, for reasons to be recorded in writing, notify in this behalf in the Official Gazette.".
[Finance (No.
2) Act, 1971]
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Section 27, The Finance Act, 1971 (Act 32 of 1971).

Questions about Section 27

What does Section 27 of the Finance Act deal with?

Section 27 of the Finance Act is headed "Amendment of section 230A". Amendment of section 230A. 27. In section 230A of the Income-tax Act, with effect' from the 1st day of October, 1971,— (a) in sub-section (1),— (i) the brackets and words "(other than agricultural land)" shall be omitted;

How do I find court cases under Section 27 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 1971 27, section 27 Finance Act 1971, section 27 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

When was Section 27 of the Finance Act enacted?

Section 27 of the Finance Act, cited as Finance Act 1971 27, was enacted on 10 Aug 1971 as Act 32 of 1971. It is in force as at the date shown on this page.

Other sections of this Act

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10. Amendment of section 40A1041 words
2. Income-tax860 words
31. Amendment of section 4836 words
37. Amendment of Act 18 of 1958668 words
32. Amendment of section 5496 words

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