Amendment of section 115JB

In force As on 05 Oct 2026

Ministry Finance Cited by 1 provision

Section 34 of the Finance Act, 2019 (No. 2) deals with amendment of section 115JB. Amendment of section 115JB 34. In section 115JB of the Income-tax Act, in sub-section (2), in Explanation 1, in the long line, for clause (iih), the following clause shall be substituted with effect from the 1st day of April, 2020, namely:— '(iih) | the aggregate amount of unabsorbed depreciation an

Amendment of section 115JB
34. In section 115JB of the Income-tax Act, in sub-section (2), in Explanation 1, in the long line, for clause (iih), the following clause shall be substituted with effect from the 1st day of April, 2020, namely:—
'(iih) the aggregate amount of unabsorbed depreciation and loss brought forward in case of a—
(A) company, and its subsidiary and the subsidiary of such subsidiary, where, the Tribunal, on an application moved by the Central Government under section 241 of the Companies Act, 2013 (18 of 2013) has suspended the Board of Directors of such company and has appointed new directors who are nominated by the Central Government under section 242 of the said Act;
(B) company against whom an application for corporate insolvency resolution process has been admitted by the Adjudicating Authority under section 7 or section 9 or section 10 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016).
Explanation.—For the purposes of this clause,—
(i) "Adjudicating Authority" shall have the meaning assigned to it in clause (1) of section 5 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016);
(ii) "Tribunal" shall have the meaning assigned to it in clause (90) of section 2 of the Companies Act, 2013 (18 of 2013);
(iii) a company shall be a subsidiary of another company, if such other company holds more than half in the nominal value of equity share capital of the company;
(iv) "loss" shall not include depreciation; or'.
Section 34, The Finance Act, 2019 (No. 2).

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This section refers to

Referred to by 1

s. 164 Amendment of section 34

Questions about Section 34

What does Section 34 of the Finance Act, 2019 (No. 2) deal with?

Section 34 of the Finance Act, 2019 (No. 2) is headed "Amendment of section 115JB". Amendment of section 115JB 34. In section 115JB of the Income-tax Act, in sub-section (2), in Explanation 1, in the long line, for clause (iih), the following clause shall be substituted with effect from the 1st day of April, 2020, namely:— '(iih) | the aggregate amount of unabsorbed depreciation an

How do I find court cases under Section 34 of the Finance Act, 2019 (No. 2)?

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, 2019 (No. 2) 34, section 34 Finance Act, 2019 (No. 2), section 34 of the Finance Act, 2019 (No. 2). 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 34 of the Finance Act, 2019 (No. 2), and has it changed?

Its own text turns on Companies Act 2 (Definitions), Companies Act 241 (Application to Tribunal for relief in cases of oppression, etc), section 7 (Amendment of section 12AA), section 9 (Amendment of section 35AD), and on 3 further provisions, 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, 2019 (No. 2) enacted?

Finance Act, 2019 (No. 2) was enacted in 2019. India Code records no commencement date for it. It is in force as at the date shown on this page.

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(A)		company, and its subsidiary and the subsidiary of such subsidiary, where, the Tribunal, on an application moved by the Central Government under section 241 of the Companies Act, 2013 (18 of 2013) has suspended the Board of Directors of such company and has appointed new directors who are nominated by the Central Government under section 242 of the said Act;
(B)		company against whom an application for corporate insolvency resolution process has been admitted by the Adjudicating Authority under section 7 or section 9 or section 10 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016).

(i)		"Adjudicating Authority" shall have the meaning assigned to it in clause (1) of section 5 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016);
(ii)		"Tribunal" shall have the meaning assigned to it in clause (90) of section 2 of the Companies Act, 2013 (18 of 2013);
(iii)		a company shall be a subsidiary of another company, if such other company holds more than half in the nominal value of equity share capital of the company;
(iv)		"loss" shall not include depreciation; or'.