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        Section 8 - Amendment of Section 36

        Finance (No. 2) Act, 1971
        Chapter III
        INCOME-TAX

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        Amendment to Section 36 expands development scope to include agricultural development alongside industrial development for tax purposes. The Finance (No. 2) Act, 1971 amends clause (viii) of subsection (1) of Section 36 of the Income-tax Act by substituting the phrase 'industrial development' with 'industrial or agricultural development,' thereby expanding the clause's scope to include agricultural development alongside industrial development, effective from the specified commencement date.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Amendment to Section 36 expands development scope to include agricultural development alongside industrial development for tax purposes.

                                The Finance (No. 2) Act, 1971 amends clause (viii) of subsection (1) of Section 36 of the Income-tax Act by substituting the phrase "industrial development" with "industrial or agricultural development," thereby expanding the clause's scope to include agricultural development alongside industrial development, effective from the specified commencement date.


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