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TypeBare Act JurisdictionCentral Government

Finance Act, 1992 Section 34

Amendment of Section 55

~1 min read
https://sooperkanoon.com/act/440765

Bare act section · Research

About this section

Finance Act, 1992 Section 34 is part of Finance Act, 1992 - Amendment of Section 55. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 55 of the Income-tax Act, with effect from the 1st day of April, 1993, -

(a) in sub-section (1), in clause (b), in sub-clause (2), in item (i), -

(i) for the figures "1974", the figures "1981" shall be substituted;

(ii) the words "and the fair market value of the asset on that day is taken as the cost of acquisition at the option of the assessee," shall be omitted;

(b) in sub-section (2), in clause (b), for the figures "1974", wherever they occur, the figures "1981" shall be substituted.

Frequently asked questions

What does Finance Act, 1992 Section 34 provide?

Section Section 34 of the Finance Act, 1992 (Amendment of Section 55) is reproduced on this page as part of the Finance Act, 1992. 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, 1992 Section 34?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 1992 Section 34. 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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