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TypeBare Act JurisdictionCentral Government

Finance Act 1972 Section 11

Insertion of New Section 74a

~1 min read
https://sooperkanoon.com/act/36301

Bare act section · Research

About this section

Finance Act 1972 Section 11 is part of Finance Act 1972 - Insertion of New Section 74a. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In the Income-tax Act, after section 74, the following section shall be inserted, namely :-

74A. Losses from certain specified sources falling under the head "Income from other sources". - (1) Where the net result of the computation made for any assessment year in respect of any source falling under the head "Income from other sources" and being a source specified in sub-section (2), is a loss, such loss shall not be set off except against income, if any, from the same source.

(2) The sources referred to in sub-section (1) are -

(a) lotteries;

(b) crossword puzzles;

(c) races including horse races;

(d) card games;

(e) other games of any sort;

(f) gambling or betting of any form or nature whatsoever not falling under any of the foregoing clauses..

Frequently asked questions

What does Finance Act 1972 Section 11 provide?

Section Section 11 of the Finance Act 1972 (Insertion of New Section 74a) is reproduced on this page as part of the Finance Act 1972. 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 1972 Section 11?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act 1972 Section 11. 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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