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TypeBare Act JurisdictionCentral Government

Finance Act, 2006 Section 12

Amendment of Section 43b

~1 min read
https://sooperkanoon.com/act/48567

Bare act section · Research

About this section

Finance Act, 2006 Section 12 is part of Finance Act, 2006 - Amendment of Section 43b. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 43B of the Income-tax Act,--

(a) after Explanation 3B, the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1989, namely:--

"Explanation 3C.--For the removal of doubts, it is hereby declared that a deduction of any sum, being interest payable under clause (d) of this section, shall be allowed if such interest has been actually paid and any interest referred to in that clause which has been converted into a loan or borrowing shall not be deemed to have been actually paid.";

(b) after Explanation 3C as so inserted, the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1997, namely:--

"Explanation 3D.--For the removal of doubts, it is hereby declared that a deduction of any sum, being interest payable under clause (e) of this section, shall be allowed if such interest has been actually paid and any interest referred to in that clause which has been converted into a loan or advance shall not be deemed to have been actually paid.".

Frequently asked questions

What does Finance Act, 2006 Section 12 provide?

Section Section 12 of the Finance Act, 2006 (Amendment of Section 43b) is reproduced on this page as part of the Finance Act, 2006. 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, 2006 Section 12?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 2006 Section 12. 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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