Amendment of section 72A
Section 33 of the Finance Act, 2023 deals with amendment of section 72A. Amendment of section 72A. 33. In section 72A of the Income-tax Act, in sub-section (1), in clause (d), in the Explanation, for clause (iii), the following clause shall be substituted, namely:— '(iii) | "strategic disinvestment" means sale of shareholding by the Central Government or any State Govern
Amendment of section 72A.
33. In section 72A of the Income-tax Act, in sub-section (1), in clause (d), in the Explanation, for clause (iii), the following clause shall be substituted, namely:—
'(iii) "strategic disinvestment" means sale of shareholding by the Central Government or any State Government or a public sector company, in a public sector company or in a company, which results in—
(a) reduction of its shareholding to below fifty-one per cent; and (b) transfer of control to the buyer: Section 33, The Finance Act, 2023 (Act 8 of 2023).
Provided that the condition laid down in sub-clause (a) shall apply only in a case where shareholding of the Central Government or the State Government or the public sector company was above fifty-one per cent before such sale of shareholding: Provided further that requirement of transfer of control referred to in sub-clause (b) may be carried out by the Central Government or the State Government or the public sector company or any two of them or all of them.'.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 33
What does Section 33 of the Finance Act deal with?
Section 33 of the Finance Act is headed "Amendment of section 72A". Amendment of section 72A. 33. In section 72A of the Income-tax Act, in sub-section (1), in clause (d), in the Explanation, for clause (iii), the following clause shall be substituted, namely:— '(iii) | "strategic disinvestment" means sale of shareholding by the Central Government or any State Govern
How do I find court cases under Section 33 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 2023 33, section 33 Finance Act 2023, section 33 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 33 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 72A (Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in amalgamation or demerger, etc), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 2023 as Act 8 of 2023. 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 Schedule10190 words
- 2. Income-tax8337 words
- Fourth Schedule. Fourth Schedule6615 words
- 5. Amendment of section 102717 words
- 150. Substitution of new section for section 1101621 words
- 54. Insertion of new section 115BAE1218 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.