# The Finance Act, 1988, Section 21: Amendment of section 79

- Act: The Finance Act, 1988 (Act 26 of 1988)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1988/section/21/

## Text

Amendment of section 79 21. In section 79 of the Income-tax Act, with effect from the 1st day of April, 1989,— (a) in clause (a) ,— (i) the word "or" occurring at the end shall be omitted; (ii) the following proviso shall be added at the end, namely: — "Provided that nothing contained in this section shall apply to a case where a change in the said voting power takes place in a previous year consequent upon the death of a shareholder or on account of transfer of shares by way of gift to any relative of the shareholder making such gift.";. (b) clause (b) shall be omitted. [Finance Act, 1988] © Copyright. Taxmann Publications Pvt. Ltd.

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