Finance Act 1994 Section 50

Section Text

The following amendments (being consequential in nature) shall be made in the Income-tax Act, -

(a) in section 44AB, in the Explanation, in clause (ii), in sub-clause (a), for the figures, letters and words "31st day of December", the figures, letters and words "30th day of November" shall be substituted;

(b) in section 80CC, in sub-section (1), -

(i) in clause (b), the word "or", occurring at the end, shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 1978;

(ii) clause (c) shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 1978;

(i) in clause (b), the word "or", occurring at the end, shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 1988;

(ii) clause (c) shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 1988;

(d) in section 80CCB, in sub-section (1), -

(i) in clause (b), the word "or", occurring at the end, shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 1991;

(ii) clause (c) shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 1991;

(e) in section 80D, in sub-section (2), clause (c) shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 1987;

(f) in section 80L, in sub-section (1), -

(i) in clause (b), the word "or", occurring at the end, shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 1968;

(ii) clause (c) shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 1968;

(g) in section 88, in sub-section (1), -

(i) in clause (b), the word "or", occurring at the end, shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 1991;

(ii) clause (c) shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 1991;

(h) in section 88A, in sub-section (1), -

(i) in clause (b), the word "or", occurring at the end, shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 1991;

(ii) clause (c) shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 1991.

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What does Finance Act 1994 Section 50 provide?

Section Section 50 of the Finance Act 1994 (Consequential Amendments) is reproduced on this page as part of the Finance Act 1994. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

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