Section 24 - Amendment of section 50B - Finance (No. 2) Act, 2009

Amendment of section 50B. 24. In section 50B of the Income-tax Act, in Explanation 2 with effect from the 1st day of April, 2010,— (i) in clause (a), the word ''and'' occurring at the end shall be omitted; (ii) for clause (b), the following clauses shall be substituted, namely:— "(b) in the case of capital assets in respect of which the whole of the expenditure has been allowed or is allowable as a deduction under section 35AD, nil; and (c) in the case of other assets, the book value of such assets.".