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TypeBare Act JurisdictionCentral Government

Finance Act, 1992 Section 39

Substitution of New Section for Sections 75, 76 and 77

~1 min read
https://sooperkanoon.com/act/440770

Bare act section · Research

About this section

Finance Act, 1992 Section 39 is part of Finance Act, 1992 - Substitution of New Section for Sections 75, 76 and 77. Read the section text below and explore Indian court judgments that cite it.

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Section Text

For sections 75, 76 and 77 of the Income-tax Act, the following section shall be substituted, with effect from the 1st day of April, 1993, namely :-

"75. Losses of firms. - Where the assessee is a firm, any loss in relation to the assessment year commencing on or before the 1st day of April, 1992, which could not set off against any other income of the firm and which had been apportioned to a partner of the firm but could not be set off by such partner prior to the assessment year commencing on the 1st day of April, 1993, then, such loss shall be allowed to set off against the income of the firm subject to the condition that the partner continues in the said firm and to be carried forward for set off under sections 70, 71, 72, 73, 74 and 74A.".

Frequently asked questions

What does Finance Act, 1992 Section 39 provide?

Section Section 39 of the Finance Act, 1992 (Substitution of New Section for Sections 75, 76 and 77) 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 39?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 1992 Section 39. 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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