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TypeBare Act JurisdictionCentral Government

Finance (No. 2) Act, 1998 Section 15

Amendment of Section 37

~1 min read
https://sooperkanoon.com/act/25775

Bare act section · Research

About this section

Finance (No. 2) Act, 1998 Section 15 is part of Finance (No. 2) Act, 1998 - Amendment of Section 37. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 37 of the Income-tax Act, after sub-section (1) the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1962 namely:--

"Explanation.-- For the removal of doubts, it is hereby declared that any expenditure incurred by an assessee for any purpose which is an offence or which is prohibited by law shall not be deemed to have been incurred for the purpose of business or profession and no deduction or allowance shall be made in respect of such expenditure."

Frequently asked questions

What does Finance (No. 2) Act, 1998 Section 15 provide?

Section Section 15 of the Finance (No. 2) Act, 1998 (Amendment of Section 37) is reproduced on this page as part of the Finance (No. 2) Act, 1998. 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 (No. 2) Act, 1998 Section 15?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance (No. 2) Act, 1998 Section 15. 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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