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TypeBare Act JurisdictionCentral Government

Finance Act 1975 Section 26

Amendment of Section 4

~1 min read
https://sooperkanoon.com/act/32997

Bare act section · Research

About this section

Finance Act 1975 Section 26 is part of Finance Act 1975 - Amendment of Section 4. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 4 of the Wealth-tax Act, for sub-section (3), the following sub-section shall be substituted, namely :-

"(3) Where the value of any assets is to be included in the net wealth of an assessee in accordance with clause (a) of sub-section (1), -

(a) there shall be deducted from such value any debts owing on the valuation date by the transferee mentioned in that clause in so far as such debts are referable to such assets; and

(b) the provisions of section 5 shall apply in relation to such assets as if such assets were assets belonging to the assessee.".

Frequently asked questions

What does Finance Act 1975 Section 26 provide?

Section Section 26 of the Finance Act 1975 (Amendment of Section 4) is reproduced on this page as part of the Finance Act 1975. 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 1975 Section 26?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act 1975 Section 26. 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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