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TypeBare Act JurisdictionCentral Government

Finance Act, 2003 Section 17

AMENDMENT OF SECTION 33AC In section 33AC of the Income tax Act,-with effect from the 1st day of April, 2004,

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https://sooperkanoon.com/act/250379

Bare act section · Research

About this section

Finance Act, 2003 Section 17 is part of Finance Act, 2003 - AMENDMENT OF SECTION 33AC In section 33AC of the Income tax Act,-with effect from the 1st day of April, 2004,. Read the section text below and explore Indian court judgments that cite it.

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Section Text

a) in sub-section (3), in clause (c), for the words "eight years", the words "three years" shall be substituted;

(b) after sub-section (3) and before the Explanation, the fpllowing sub- section shall be inserted, namely:- "(4) Where the ship is sold or otherwise transferred (other than in any scheme of demerger) after the expiry of the period specified in clause (c) of sub-section (3) and the sale proceeds are not utilised for the purpose of acquiring a new ship within a period of one year from the end of the previous year in which such sale or transfer took place, such sale proceeds shall be deemed to be the profits of the assessment year immediately following the previous year in which the ship is sold or transferred.".

Frequently asked questions

What does Finance Act, 2003 Section 17 provide?

Section Section 17 of the Finance Act, 2003 (AMENDMENT OF SECTION 33AC In section 33AC of the Income tax Act,-with effect from the 1st day of April, 2004,) is reproduced on this page as part of the Finance Act, 2003. 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, 2003 Section 17?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 2003 Section 17. 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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