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TypeBare Act JurisdictionCentral Government

Finance Act, 1987 Section 88

AMENDMENT OF SECTION 31 InSection 31 of the Wealth-tax Act-, in sub-section

~1 min read
https://sooperkanoon.com/act/249464

Bare act section · Research

About this section

Finance Act, 1987 Section 88 is part of Finance Act, 1987 - AMENDMENT OF SECTION 31 InSection 31 of the Wealth-tax Act-, in sub-section. Read the section text below and explore Indian court judgments that cite it.

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Section Text

2A)-

(a) in the opening portion (i) for the words "the Board may", the words "the Commissioner may" shall be substituted (ii) for the words "interest payable by an assessee" the words "interest paid or payable by an assessee" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of October, 1984;

(iii) for the words, "on the recommendation made by the Commissioner in this behalf, it is satisfied that", the words "he is satisfied that" shall be substituted;

(b) for clauses (i) and (ii), the following clauses shall be substituted and shall be deemed to have been substituted with effect from the 1st day of October, 1984, namely:- "(i) payment of such amount has caused or would cause genuine hardship to the assessee;

(ii) default in the payment of the amount on which interest has been paid or was payable under the said sub-section was due to circumstances beyond the control of the assessee; and".

Frequently asked questions

What does Finance Act, 1987 Section 88 provide?

Section Section 88 of the Finance Act, 1987 (AMENDMENT OF SECTION 31 InSection 31 of the Wealth-tax Act-, in sub-section) is reproduced on this page as part of the Finance Act, 1987. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Finance Act, 1987 Section 88?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 1987 Section 88. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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