Amendment of section 54ED
Section 14 of the Finance Act, 2006 deals with amendment of section 54ED. Amendment of section 54ED. 14. In section 54ED of the Income-tax Act, in sub-section (1), for the words "from the transfer of a long-term capital asset,", the words, figures and letters "from the transfer before the 1st day of April, 2006, of a long-term capital asset," shall be substituted with eff
Amendment of section 54ED.
14. In section 54ED of the Income-tax Act, in sub-section (1), for the words "from the transfer of a long-term capital asset,", the words, figures and letters "from the transfer before the 1st day of April, 2006, of a long-term capital asset," shall be substituted with effect from the 1st day of April, 2007.
© Copyright. Taxmann Publications Pvt. Ltd.
Section 14, The Finance Act, 2006.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Related judgements & precedents
These are some judgments that construed this section, and hold precedence value. They hold authority on how to read, interpret and use this section.
-
Maxopp Investment Ltd. . Director vs Commr. of I. T New Delhi
Court's Decision & Legal Precedent
The dominant purpose or intention behind investment in shares is not relevant in determining applicability of Section 14A. Where dividend income is earned on shares, whether held as investment for acquiring controlling interest or as stock-in-trade, the principle of apportionment of expenditure between taxable and non-taxable income applies under Section 14A. Expenditure incurred in relation to earning tax-exempt dividend income must be disallowed proportionately. However, where shares are held as stock-in-trade and dividend is earned incidentally, the apportionment must be done based on actual facts and circumstances. The Assessing Officer must record satisfaction before applying apportionment under Section 14A(2) read with Rule 8D, and must examine the nature of loan taken for purchasing shares. Rule 8D is prospective in nature and applies only to assessment years from 2007-08 onwards.
On this section: Amended Section 14A by renumbering original provision as sub-section (1) and adding sub-sections (2) and (3)
The holding above is the ratio decidendi as extracted from the judgment by eCourts India, reproduced unaltered — it is a rendering of the court's reasoning, not a substitute for its words. Read the order itself before relying on it.
Questions about Section 14
What have the courts held on Section 14 of the Finance Act?
Maxopp Investment Ltd. . Director vs Commr. of I. T New Delhi (12 Feb 2018) is the leading judgment on this section among those set out below: Amended Section 14A by renumbering original provision as sub-section (1) and adding sub-sections (2) and (3).
How do I find court cases under Section 14 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 2006 14, section 14 Finance Act 2006, section 14 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome. 1 reported judgment on this section is set out on this page, beginning with Maxopp Investment Ltd. . Director vs Commr. of I. T New Delhi (12 Feb 2018).
What should I read with Section 14 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 54ED (Capital gain on transfer of certain listed securities or unit not to be charged in certain cases), 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 2006. 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 Schedule7285 words
- 2. Income-tax2665 words
- 4. Amendment of section 10604 words
- 3. Amendment of section 2556 words
- 20. Insertion of new section 90A531 words
- 33. Insertion of new section 139B512 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.