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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Finance Act 1989: Section 54E Amends Income-tax Act to Include NHB Debentures and Bonds in Asset Transfers.</h1> Section 54E of the Income-tax Act has been amended by the Finance Act, 1989, effective from April 1, 1990. In sub-section (1), Explanation 1, a new clause (e) is added. This clause specifies that if the original asset is transferred after March 31, 1989, it includes any assets mentioned in clauses (c) and (d), and debentures or bonds issued by the National Housing Bank. These are specified by the Central Government through a notification in the Official Gazette.
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