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TypeBare Act JurisdictionCentral Government

Finance Act, 2012, (Central) Section 12

Amendment of Section 40a

~1 min read
https://sooperkanoon.com/act/63650

Bare act section · Research

About this section

Finance Act, 2012, (Central) Section 12 is part of Finance Act, 2012, (Central) - Amendment of Section 40a. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 40A of the Income-tax Act, in sub-section (2), with effect from the 1st day of April, 2013,--

(i) in clause (a), the following proviso shall be inserted, namely:--

"Provided that no disallowance, on account of any expenditure being excessive or unreasonable having regard to the fair market value, shall be made in respect of a specified domestic transaction referred to in section 92BA, if such transaction is at arm's length price as defined in clause (ii) of section 92F.";

(ii) in clause (b), in sub-clause (iv), after the words "or any relative of such director, partner or member", the words "or any other company carrying on business or profession in which the first mentioned company has substantial interest" shall be inserted.

Frequently asked questions

What does Finance Act, 2012, (Central) Section 12 provide?

Section Section 12 of the Finance Act, 2012, (Central) (Amendment of Section 40a) is reproduced on this page as part of the Finance Act, 2012, (Central). 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, 2012, (Central) Section 12?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 2012, (Central) 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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