Section 12 - Amendment of section 43 - Finance Act, 1966

12. Amendment of section 43 In section 43 of the Income-tax Act, to clause (1), the following proviso shall be added, namely:- Provided that where the actual cost of an asset, being a motor car acquired by the assessee after the 28th day of February, 1966, exceeds twenty-five thousand rupees, the excess of the actual cost over such amount shall be ignored, and the actual cost thereof shall be taken to be twenty-five thousand rupees. .