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Home Bare Acts Phrase: section 48 of the act becomes a pure arithmetical processPatents (Amendment) Act, 2002 Section 25
Title : Substitution of New Section for Section 48
State : Central
Year : 2002
For section 48 of the principal Act, the following section shall be substituted, namely :-- "48. Rights of patentees.-- Subject to the other provisions contained in this Act and the conditions specified in section 47, a patent granted under this Act shall confer upon the patentee-- (a) where the subject matter of the patent is a product, the exclusive right to prevent third parties, who do not have his consent, from the act of making, using, offering for sale, selling or importing for those purposes that product in India; (b) where the subject matter of the patent is a process, the exclusive right to prevent third parties, who do not have his consent, from the act of using that process, and from the act of using, offering for sale, selling or importing for those purposes the product obtained directly by that process in India : Provided that the product obtained is not a product in respect of which no patent shall be granted under this Act.".
View Complete Act List Judgments citing this sectionFinance Act 1997 Section 18
Title : Amendment of Section 48
State : Central
Year : 1997
In section 48 of the Income-tax Act, after the second proviso, the following proviso shall be inserted with effect from the 1st day of April, 1998, namely :- "Provided also that nothing contained in the second proviso shall apply to the long-term capital gain arising from the transfer of a long-term capital asset being bond or debenture other than capital indexed bonds issued by the Government.".
View Complete Act List Judgments citing this sectionPatents (Amendment) Act, 2005 Section 36
Title : Amendment of Section 48
State : Central
Year : 2005
In section 48 of the principal Act, the proviso shall be omitted.
View Complete Act List Judgments citing this sectionDeposit Insurance Corporation (Amendment) Act.1968 Section 14
Title : Amendment of Section 48
State : Central
Year : 1968
In the Explanation to section 48 of the principal Act,- (i) in clause (a), after the words " and includes ", the words " a co-operative society or" shall be inserted; (ii) in clause (b), after the words " in the firm", the words "and in relation to a co-operative society includes any member of a committee of management or other managing body (by whatever name called) to which the management of the affairs of the bank is entrusted" shall be inserted.
View Complete Act List Judgments citing this sectionInformation Technology (Amendment) Act 2008 Section 25
Title : Amendment of Section 48
State : Central
Year : 2008
In section 48 of the principal Act, in sub-section (1), the word "Regulations" shall be omitted.
View Complete Act List Judgments citing this sectionFinance Act, 2000 Section 22
Title : Amendment of Section 48
State : Central
Year : 2000
In section 48 of the Income-tax Act,- (i) after the third proviso but before the Explanation, the following shall be inserted with effect from the 1st day of April, 2001, namely :- "Provided also that where shares, debentures or warrants referred to in the proviso to clause (iii) of section 47 are transferred under a gift or an irrevocable trust, the market value on the date of such transfer shall be deemed to be the full value of consideration received or accruing as a result of transfer for the purposes of this section."; (ii) in the Explanation, for clause (v), the following clause shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 1993, namely :- '(v) "Cost Inflation Index", in relation to a previous year, means such Index as the Central Government may, having regard to seventy- five per cent. of average rise in the Consumer Price Index for urban non-manual employees for the immediately preceding previous year to such previous year, by notification in the Official Gazette, specify, in this behalf.'.
View Complete Act List Judgments citing this sectionFinance Act, 1987 Section 15
Title : Substitution of New Section for Section 48
State : Central
Year : 1987
.....allowed in accordance with clauses (1) and (2) of this proviso : Provided further that, in relation to the amount referred to in clause (b) of sub-section (5) of section 45, the initial deduction of ten thousand rupees under clause (a) of this sub-section shall be reduced by the deduction already allowed under clause (a) of section 80T in the assessment for the assessment year commencing on the 1st day of April, 1987, or any earlier assessment year or, as the case may be, by the deduction allowed under clause (a) of this sub-section in relation to the amount of compensation or consideration referred to in clause (a) of sub-section (5) of section 45 and references to ten thousand rupees in clauses (a) and (b) of this sub-section shall be construed as references to such reduced amount, if any. (3) The deductions specified in sub-section (2) shall be made also for the purposes of computing any loss under the head "Capital gains" in so far as it pertains to any long-term capital asset and, for this purposes, any reference in that sub-section to the amount of long-term capital gain arrived at after making the deductions under clause (a) of sub-section (1) shall be construed as.....
View Complete Act List Judgments citing this sectionFinance Act, 1989 Section 11
Title : Amendment of Section 48
State : Central
Year : 1989
.....in providing finance to venture capital undertakings mainly by way of acquiring equity shares of such undertakings or, if the circumstances so require, by way of advancing loans to such undertakings, and is approved by the Central Government in this behalf; (b) "venture capital undertaking" means such company as the prescribed authority may, having regard to the following factors, approve for the purposes of sub-clause (ia) of clause (b) of sub-section (2), namely :- (1) the total investment in the company does not exceed ten crore rupees or such other higher amount as may be prescribed; (2) the company does not have adequate financial resources to undertake projects for which it is otherwise professionally or technically equipped; and (3) the company seeks to employ any technology which will result in significant improvement over the existing technology in India in any field and the investment in such technology involves high risk
View Complete Act List Judgments citing this sectionFinance (No. 2) Act, 2004 Section 12
Title : Amendment of Section 48
State : Central
Year : 2004
In section 48 of the Income-tax Act, after the fourth proviso and before the Explanation, the following proviso shall be inserted with effect from the 1st day of April, 2005, namely:-- "Provided also that no deduction shall be allowed in computing the income chargeable under the head "Capital gains" in respect of any sum paid on account of securities transaction tax under Chapter VII of the Finance (No. 2) Act, 2004.".'.
View Complete Act List Judgments citing this sectionFinance Act 2001 Section 141
Title : Omission of Section 48 of Act 53 of 1987
State : Central
Year : 2001
Section 48 of the National Housing Bank Act, 1987 shall be omitted with effect from the 1st day of April, 2002.
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