# The Finance Act, 1980, Section 8: Amendment of section 35B

- Act: The Finance Act, 1980 (Act 44 of 1980)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1980/section/8/

## Text

Amendment of section 35B 8. In section 35B of the Income-tax Act, in sub-section (1), with effect from the 1st day of April, 1981,— (a) in clause (b), sub-clauses (ii), (iii), (v), (vi) and (viii) shall be omitted; (b) for Explanation 2 below clause (b), the following Explana-tion shall be substituted, namely: — "Explanation 2.-For the removal of doubts, it is hereby . declared that notiiing in clause (b) shall be construed to include : any expenditure which is in the nature of purchasing and manu-facturing expenses ordinarily debitable to the trading or manufacturing account and not to the profit and loss account.". [Finance (No. 2) Act, 1980] © Copyright. Taxmann Publications Pvt. Ltd.

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