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TypeBare Act JurisdictionCentral Government

Finance Act, 2002 Section 18

AMENDMENT OF SECTION 35-DDA -In Section 35-DDA-of the Income Tax Act. for sub-section

~2 min read
https://sooperkanoon.com/act/250216

Bare act section · Research

About this section

Finance Act, 2002 Section 18 is part of Finance Act, 2002 - AMENDMENT OF SECTION 35-DDA -In Section 35-DDA-of the Income Tax Act. for sub-section. Read the section text below and explore Indian court judgments that cite it.

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Section Text

2), the following sub-sections shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 2001, namely:- "(2) Where the assessee, being an Indian company, is entitled to the deduction under sub-section (1) and the undertaking of such Indian company entitled to the deduction under sub-section (1) is transferred, before the expiry of the period specified in that sub-section, to another Indian company in a scheme of amalgamation, the provisions of this section shall, as far as may be, apply to the amalgamated company as they would have applied to the amalgamating company if the amalgamation had not taken place.

(3) Where the undertaking of an Indian company entitled to the deduction under sub-section (1) is transferred, before the expiry of the period specified in that sub- section, to another company in a scheme of demerger, the provisions of this section shall, as far as may be, apply to the resulting company, as they would have applied to the demerged company, if the demerger had not taken place.

(4) Where there has been reorganisation of business, whereby a firm is succeeded by a company fulfilling the conditions laid down in clause (xiii) ofSection 47-or a proprietary concern is succeeded by a company fulfilling the conditions laid down in clause (xiv) ofSection 47-, the provisions of this section shall, as far as may be, apply to the successor company, as they would have applied to the firm or the proprietary concern, if reorganisation of business had not taken place.

(5) No deduction shall be allowed in respect of the expenditure mentioned in sub- section (1) in the case of the amalgamating company referred to in sub-section (2), in the case of demerged company referred to in sub-section (3) and in the case of a firm or proprietary concern referred to in sub-section (4) of this section, for the previous year in which amalgamation, demerger or succession, as the case may be, takes place.

(6) No deduction shall be allowed in respect of the expenditure mentioned in sub- section (1) under any other provision of this Act.".

Frequently asked questions

What does Finance Act, 2002 Section 18 provide?

Section Section 18 of the Finance Act, 2002 (AMENDMENT OF SECTION 35-DDA -In Section 35-DDA-of the Income Tax Act. for sub-section) is reproduced on this page as part of the Finance Act, 2002. 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, 2002 Section 18?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 2002 Section 18. 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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