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TypeBare Act JurisdictionCentral Government

Finance Act 1999 Section 20

Insertion of New Section 35dd

~1 min read
https://sooperkanoon.com/act/5487

Bare act section · Research

About this section

Finance Act 1999 Section 20 is part of Finance Act 1999 - Insertion of New Section 35dd. Read the section text below and explore Indian court judgments that cite it.

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Section Text

After section 35D of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2000, namely :-

"35dd. AMORTISATION OF EXPENDITURE IN CASE OF AMALGAMATION OR DEMERGER.

(1) Where an assessee, being an Indian company, incurs any expenditure, on or after the 1st day of April, 1999, wholly and exclusively for the purposes of amalgamation or demerger of an undertaking, the assessee shall be allowed a deduction of an amount equal to one-fifth of such expenditure for each of the five successive previous years beginning with the previous year in which the amalgamation or demerger takes place.

(2) No deduction shall be allowed in respect of the expenditure mentioned in sub-section (1) under any other provision of this Act.".

Frequently asked questions

What does Finance Act 1999 Section 20 provide?

Section Section 20 of the Finance Act 1999 (Insertion of New Section 35dd) is reproduced on this page as part of the Finance Act 1999. 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 1999 Section 20?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act 1999 Section 20. 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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