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Section26
The Finance Act, 2002

Amendment of section 55

In force As on 08 Oct 2026

Ministry Finance

Section 26 of the Finance Act, 2002 deals with amendment of section 55. Amendment of section 55. 26. In section 55 of the Income-tax Act, with effect from the 1st day of April, 2003,— (a ) in sub-section (1), in clause (b), in sub-clause (1), after the words "any article or thing", the words "or right to carry on any business" shall be inserted;

Amendment of section 55.

26. In section 55 of the Income-tax Act, with effect from the 1st day of April, 2003,—

(a ) in sub-section (1), in clause (b), in sub-clause (1), after the words "any article or thing", the words "or right to carry on any business" shall be inserted;

(b ) in sub-section (2), in clause (a), after the words "any article or thing", the words "or right to carry on any business" shall be inserted.

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Section 26, The Finance Act, 2002.

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. s. 55 Amendment of section 119
  2. Income-tax Act s. 55 Meaning of "adjusted", "cost of improvement" and "cost of acquisition"

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 55". Amendment of section 55. 26. In section 55 of the Income-tax Act, with effect from the 1st day of April, 2003,— (a ) in sub-section (1), in clause (b), in sub-clause (1), after the words "any article or thing", the words "or right to carry on any business" shall be inserted;

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 2002 26, section 26 Finance Act 2002, 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 55 (Amendment of section 119), Income-tax Act 55 (Meaning of "adjusted", "cost of improvement" and "cost of acquisition"), so none of them can safely be read on its own.

When was the Finance Act enacted?

Finance Act was enacted in 2002. 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

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.