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TypeBare Act JurisdictionCentral Government

Finance Act, 2001 Section 29

AMENDMENT OF SECTION 47 InS.47 of the Income-tax Act-,"

~2 min read
https://sooperkanoon.com/act/455352

Bare act section · Research

About this section

Finance Act, 2001 Section 29 is part of Finance Act, 2001 - AMENDMENT OF SECTION 47 InS.47 of the Income-tax Act-,". Read the section text below and explore Indian court judgments that cite it.

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Section Text

a) in clause (iii), in the proviso, for the words "the Employees' Stock Option Plan or Scheme", the words "any Employees' Stock Option Plan or Scheme of the Company offered to such employees in accordance with the guidelines issued by the Central Government in this behalf" shall be substituted;

(b) in clause (viia), for the word "shares", the words "Global Depository Receipts" shall be substituted with effect from the 1st day of April, 2002.

(c) in clause (xiit), with effect from the 1st day of April, 2002,"

(i) for the portion beginning with the words "where a firm is succeeded" and ending with the words "intangible asset to the company", the following shall be substituted, namely :" "any transfer of a capital asset or intangible asset by a firm to a company as a result of succession of the firm by a company in the business carried on by the firm, or any transfer of a capital asset to a company in the course of corporatisation of a recognised stock exchange in India as a result of which an association of persons or body of individuals is succeeded by such company:";

(ii) in the proviso,"

(A) in clause (a), after the words "liabilities of the firms" the words "or of the association of persons or body of individuals" shall be inserted;

(B) after clause (d), the following clause shall be inserted namely:" "(e) the corporatisation of a recognised stock exchange in India is carried out in accordance with a scheme for corporatisation which is 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).".

Frequently asked questions

What does Finance Act, 2001 Section 29 provide?

Section Section 29 of the Finance Act, 2001 (AMENDMENT OF SECTION 47 InS.47 of the Income-tax Act-,") 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 29?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 2001 Section 29. 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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