# The Finance Act, 2018, Section 9: Amendment of section 28

- Act: The Finance Act, 2018 (Act 13 of 2018)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2018/section/9/

## Text

Amendment of section 28. 9. In section 28 of the Income-tax Act, with effect from the 1st day of April, 2019,— (I) | in clause (ii), after sub-clause (d), the following sub-clause shall be inserted, namely:— "(e) | any person, by whatever name called, at or in connection with the termination or the modification of the terms and conditions, of any contract relating to his business;"; (II) | after clause (vi), the following clause shall be inserted, namely:— "(via) | the fair market value of inventory as on the date on which it is converted into, or treated as, a capital asset determined in the prescribed manner;".

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