Commencement of Finance Act: majority of provisions operate retrospectively to the start of the financial year. The Finance Act, 1986 is enacted to implement the Central Government's financial proposals for the financial year 1986-87 and is formally titled the Finance Act, 1986. Unless otherwise provided, sections 2 to 47, excluding sections 27, 34, 35 and 36, are deemed to have come into force at the commencement of the financial year (1 April 1986), giving retrospective operational effect to those specified provisions.
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.
Commencement of Finance Act: majority of provisions operate retrospectively to the start of the financial year.
The Finance Act, 1986 is enacted to implement the Central Government's financial proposals for the financial year 1986-87 and is formally titled the Finance Act, 1986. Unless otherwise provided, sections 2 to 47, excluding sections 27, 34, 35 and 36, are deemed to have come into force at the commencement of the financial year (1 April 1986), giving retrospective operational effect to those specified provisions.
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