Amendment of section 155
Section 26 of the Finance Act, 1980 deals with amendment of section 155. Amendment of section 155 26. In section 155 of the Income-tax Act, after sub-section (5A), the following sub-section shall be inserted with effect from the 1st day of April, 1981, namely: — " (5B) Where any deduction in respect of any expenditure on scientific research has been made in any assessmen
Amendment of section 155
26. In section 155 of the Income-tax Act, after sub-section (5A), the following sub-section shall be inserted with effect from the 1st day of April, 1981, namely: —
" (5B) Where any deduction in respect of any expenditure on scientific research has been made in any assessment year under subsection (2B) of section 35 and the assessee fails to furnish a certificate of completion of the programme obtained from the prescribed authority within one year of the period allowed for its completion by such authority, the deduction originally made in excess of the expenditure actually incurred shall be deemed to have been wrongly made, and the Income-tax Officer may, notwithstanding anytinng contained in this Act, recompute the total income of the assessee for the relevant previous year and make the necessary amendment; and the provisions of section 154 shall, so far as may be, apply thereto, the period of four years specified in sub-section (7) of that section being reckoned from the end of the previous year in which the period allowed for the completion of the programme by the prescribed authority expired.".
[Finance (No.
2) Act, 1980]
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Section 26, The Finance Act, 1980 (Act 44 of 1980).
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Questions about Section 26
What does Section 26 of the Finance Act deal with?
Section 26 of the Finance Act is headed "Amendment of section 155". Amendment of section 155 26. In section 155 of the Income-tax Act, after sub-section (5A), the following sub-section shall be inserted with effect from the 1st day of April, 1981, namely: — " (5B) Where any deduction in respect of any expenditure on scientific research has been made in any assessmen
How do I find court cases under Section 26 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 1980 26, section 26 Finance Act 1980, section 26 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 26 of the Finance Act, and has it changed?
Its own text turns on section 35 (Consequential amendments to certain sections), Income-tax Act 155 (Other amendments), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 1980 as Act 44 of 1980. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. First Schedule7354 words
- 2. Income-tax1893 words
- 16. Insertion of new section 89-I1730 words
- 53. Amendment of Act 38 of 19741179 words
- 27. Amendment of section 164789 words
- 17. Amendment of section 80J780 words
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.