Section 52 - Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 - Income-tax Act, 1961

Consideration for transfer in cases of understatement. 52. 1 [****] -------------------------------- Notes :- 1. Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 . Prior to omission sub-section (2) of section 52 and its proviso were inserted by the Finance Act, 1964, w.e.f. 1-4-1964 and the Finance Act, 1975, with retrospective effect from 1-4-1974, respectively. The proviso was later amended by the Finance Act, 1978, with retrospective effect from 1-4-1974.