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TypeBare Act JurisdictionCentral Government

Finance Act, 2001 Section 23

AMENDMENT OF SECTION 35 InS.35 of the Income-tax Act-, with effect from the 1st day of April, 2002"

~1 min read
https://sooperkanoon.com/act/455346

Bare act section · Research

About this section

Finance Act, 2001 Section 23 is part of Finance Act, 2001 - AMENDMENT OF SECTION 35 InS.35 of the Income-tax Act-, with effect from the 1st day of April, 2002". Read the section text below and explore Indian court judgments that cite it.

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Section Text

a) in sub-section (2AA),"

(i) for the words "University or an Indian Institute of Technology", the words "University or an Indian Institute of Technology or a specified person" shall be substituted;

(ii) in the Explanation, after clause (c), the following clause shall be inserted, namely:"

(d) "specified person" means such person as is approved by the prescribed authority.';

(b) in sub-section (2AB),"

(i) in clause (1), for the words "engaged in the business of", the words "engaged in the business of biotechnology or in the business of" shall be substituted;

(ii) after clause (7), the following

Explanation shall be inserted, namely:"

Explanation."For the purposes of this clause, "expenditure on scientific research", in relation to drugs and pharmaceuticals, shall include expenditure incurred on clinical drug trial, obtaining approval from any regulatory authority under any Central, State or Provincial Act and filing an application for a patent under thePatents Act, 1970 (39 of 1970).

Frequently asked questions

What does Finance Act, 2001 Section 23 provide?

Section Section 23 of the Finance Act, 2001 (AMENDMENT OF SECTION 35 InS.35 of the Income-tax Act-, with effect from the 1st day of April, 2002") is reproduced on this page as part of the Finance Act, 2001. 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, 2001 Section 23?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 2001 Section 23. 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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