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TypeBare Act JurisdictionCentral Government

Finance Act, 2008 Section 140

Charge on termination of interest in possession where new interest acquired

~1 min read
https://sooperkanoon.com/act/455949

Bare act section · Research

About this section

Finance Act, 2008 Section 140 is part of Finance Act, 2008 - Charge on termination of interest in possession where new interest acquired. Read the section text below and explore Indian court judgments that cite it.

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Section Text

1) In section 53 of IHTA 1984 (exceptions from charge on termination of interest in possession), for subsection (2A) substitute- "(2A) Subsection (2) above applies by virtue of the person becoming beneficially entitled on or after 12 March 2008 to another interest in possession in the property only if that other interest is-

(a) a disabled person's interest, or (b) a transitional serial interest; and that is the case irrespective of whether the person's beneficial entitlement to the interest in possession in the property which comes to an end is one which began before, or on or after, 22 March 2006."

(2) The amendment made by subsection (1) is treated as having come into force on 22 March 2006 (so that paragraph 14(3) of Schedule 20 to FA 2006 is treated as never having had effect).

Frequently asked questions

What does Finance Act, 2008 Section 140 provide?

Section Section 140 of the Finance Act, 2008 (Charge on termination of interest in possession where new interest acquired) 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 140?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 2008 Section 140. 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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