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TypeBare Act JurisdictionCentral Government

Finance Act, 1981 Section 5

Amendment of Section 32a

~1 min read
https://sooperkanoon.com/act/45085

Bare act section · Research

About this section

Finance Act, 1981 Section 5 is part of Finance Act, 1981 - Amendment of Section 32a. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 32A of the Income-tax Act, in clause (2) of the Explanation below sub-section (2), for the words "the business of the undertaking does not exceed ten lakh rupees; and for this purpose the value of any machinery or plant shall be, -", the following shall be substituted, namely :-

"the business of the undertaking does not exceed, -

(i) in a case where the previous year ends before the 1st day of August, 1980, ten lakh rupees; and

(ii) in a case where the previous year ends after the 31st day of July, 1980, twenty lakh rupees, and for this purpose the value of any machinery or plant shall be, -".

Frequently asked questions

What does Finance Act, 1981 Section 5 provide?

Section Section 5 of the Finance Act, 1981 (Amendment of Section 32a) is reproduced on this page as part of the Finance Act, 1981. 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, 1981 Section 5?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 1981 Section 5. 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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