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        F. Acts / Amendment Acts

        Section 29 - Amendment of section 72A

        Finance Act, 2000
        Chapter III
        DIRECT TAXES
        INCOME-TAX

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        Book value of fixed assets now defines the statutory asset basis, replacing the prior broader 'value of assets' wording. The amendment replaces the phrase 'value of assets' with 'book value of fixed assets' in sub section (2), clause (i), thereby restricting the statutory valuation basis to the accounting book value of depreciable fixed assets rather than a broader asset value measure.
                          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.

                                Book value of fixed assets now defines the statutory asset basis, replacing the prior broader "value of assets" wording.

                                The amendment replaces the phrase "value of assets" with "book value of fixed assets" in sub section (2), clause (i), thereby restricting the statutory valuation basis to the accounting book value of depreciable fixed assets rather than a broader asset value measure.


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