Amendment to section 54 removes the Explanation to subsection (2), changing statutory guidance on capital gains reinvestment. The Finance Act, 1992 omits the Explanation to subsection (2) of section 54 of the Income-tax Act, removing the explanatory provision that previously accompanied that subsection and changing the statutory text and interpretive guidance for the section's reinvestment relief mechanism, with effect from the stated statutory 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 54 removes the Explanation to subsection (2), changing statutory guidance on capital gains reinvestment.
The Finance Act, 1992 omits the Explanation to subsection (2) of section 54 of the Income-tax Act, removing the explanatory provision that previously accompanied that subsection and changing the statutory text and interpretive guidance for the section's reinvestment relief mechanism, with effect from the stated statutory commencement date.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.