Amendment of section 43
Section 17 of the Finance Act, 1996 deals with amendment of section 43. Amendment of section 43. 17. In section 43 of the Income-tax Act, in clause (I), after Explanation 4, the following Explanation shall be inserted with effect from the 1st day of October, 1996, namely:— "Explanation 4A.—Where before the date of acquisition by the assessee (hereinafter referred to as
Amendment of section 43.
17. In section 43 of the Income-tax Act, in clause (I), after Explanation 4, the following Explanation shall be inserted with effect from the 1st day of October, 1996, namely:—
"Explanation 4A.—Where before the date of acquisition by the assessee (hereinafter referred to as the first mentioned person), the assets were at any time used by any other person (hereinafter referred to as the second mentioned person) for the purposes of his business or profession and depreciation allowance has been claimed in respect of such assets in the case of the second mentioned person and such person acquires on lease, hire or otherwise assets from the first mentioned person, then, notwithstanding anything contained in Explanation 3, the actual cost of the transferred assets, in the case of first mentioned person, shall be the same as the written down value of the said assets at the time of transfer thereof by the second mentioned person.".
[Finance (No.
2) Act, 1996]
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Section 17, The Finance Act, 1996 (Act 33 of 1996).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 17
What does Section 17 of the Finance Act deal with?
Section 17 of the Finance Act is headed "Amendment of section 43". Amendment of section 43. 17. In section 43 of the Income-tax Act, in clause (I), after Explanation 4, the following Explanation shall be inserted with effect from the 1st day of October, 1996, namely:— "Explanation 4A.—Where before the date of acquisition by the assessee (hereinafter referred to as
How do I find court cases under Section 17 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 1996 17, section 17 Finance Act 1996, section 17 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 17 of the Finance Act, and has it changed?
Its own text turns on section 43 (Amendment of section 148), Income-tax Act 43 (Definitions of certain terms relevant to income from profits and gains of business or profession), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.
When was the Finance Act enacted?
Finance Act was enacted in 1996 as Act 33 of 1996. 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 Schedule4964 words
- 2. Income-tax1749 words
- 20. Insertion of new sections 54EA and 54EB1112 words
- 39. Insertion of new section 115JA964 words
- 4. Amendment of section 10695 words
- 34. Amendment of section 88644 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.