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TypeBare Act JurisdictionCentral Government

Finance Act 1999 Section 21

Amendment of Section 35e

~1 min read
https://sooperkanoon.com/act/5488

Bare act section · Research

About this section

Finance Act 1999 Section 21 is part of Finance Act 1999 - Amendment of Section 35e. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 35E of the Income-tax Act, after sub-section (7), the following sub-section shall be inserted with effect from the 1st day of April, 2000, namely :-

"(7A) Where the undertaking of an Indian company which is entitled to the deduction under sub-section (1) is transferred, before the expiry of the period of ten years specified in sub-section (1), to another Indian company in a scheme of demerger, -

(i) no deduction shall be admissible under sub-section (1) in the case of the demerged company for the previous year in which the demerger takes place; and

(ii) the provisions of this section shall, as far as may be, apply to the resulting company as they would have applied to the demerged company, if the demerger had not taken place.".

Frequently asked questions

What does Finance Act 1999 Section 21 provide?

Section Section 21 of the Finance Act 1999 (Amendment of Section 35e) 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 21?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act 1999 Section 21. 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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