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        F. Acts / Amendment Acts

        Section 3 - Amendment of section 2

        Finance Act, 1989
        DIRECT TAXES
        INCOME-TAX

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        Revenue-from-land exclusion clarified: transfers of specified land items a and b are not treated as income, effective retrospectively. An Explanation added to clause (1A) of section 2 declares that revenue derived from land does not include income arising from the transfer of certain specified lands referred to in the referenced sub clause items, and that this exclusion is deemed effective from 1 April 1970.
                          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.

                              Revenue-from-land exclusion clarified: transfers of specified land items a and b are not treated as income, effective retrospectively.

                              An Explanation added to clause (1A) of section 2 declares that revenue derived from land does not include income arising from the transfer of certain specified lands referred to in the referenced sub clause items, and that this exclusion is deemed effective from 1 April 1970.


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