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TypeBare Act JurisdictionCentral Government

Finance Act, 2001 Section 26

AMENDMENT OF SECTION 43 InS.43 of the Income-tax Act-, with effect from the 1st day of April, 2002"

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https://sooperkanoon.com/act/455349

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About this section

Finance Act, 2001 Section 26 is part of Finance Act, 2001 - AMENDMENT OF SECTION 43 InS.43 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 clause (1), after

Explanation 11, the following

Explanation shall be inserted, namely:" "Explanation 12."Where any capital asset is acquired by the assessee under a scheme for corporatisation of a recognised stock exchange in India, approved by the Securities and Exchange Board of India established underS.3 of the Securities and Exchange Board of India Act, 1992-(15 of 1992), the actual cost of the asset shall be deemed to be the amount which would have been regarded as actual cost had there been no such corporatisation.";

(b) in clause (6), after

Explanation 4, the following

Explanation shall be inserted, namely:" "Explanation 5."Where in a previous year, any asset forming part of a block of assets is transferred by a recognised stock exchange in India to a company under a scheme for corporatisation approved by the Securities and Exchange Board of India established underS.3 of the Securities and Exchange Board of India Act, 1992-(15 of 1992), the written down value of the block of assets in the case of such company shall be the written down value of the transferred assets immediately before such transfer.".

Frequently asked questions

What does Finance Act, 2001 Section 26 provide?

Section Section 26 of the Finance Act, 2001 (AMENDMENT OF SECTION 43 InS.43 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 26?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 2001 Section 26. 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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