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TypeBare Act JurisdictionCentral Government

Finance Act, 2008 Section 61

Non-active partners

~1 min read
https://sooperkanoon.com/act/455863

Bare act section · Research

About this section

Finance Act, 2008 Section 61 is part of Finance Act, 2008 - Non-active partners. Read the section text below and explore Indian court judgments that cite it.

Research copy - verify against official government publications before filing or court use.

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Section Text

1) In section 103B(2) of ITA 2007 (meaning of "non-active partner" for purposes of provisions restricting trade loss relief), for "carried on for the purposes of the trade" substitute "of the trade and those activities are carried on-

(a) on a commercial basis, and (b) with a view to the realisation of profits as a result of the activities."

(2) The amendment made by subsection (1) has effect in relation to relevant periods ending on or after 12 March 2008.

Frequently asked questions

What does Finance Act, 2008 Section 61 provide?

Section Section 61 of the Finance Act, 2008 (Non-active partners) is reproduced on this page as part of the Finance Act, 2008. 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, 2008 Section 61?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 2008 Section 61. 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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