Section 13 - Amendment of section 43B - Finance Act, 1990

13. Amendment of section 43B In section 43B of the Income-tax Act, with effect from the 1st day of April, 1991, - (a) in clause (d), after the words any public financial institution , the words or a State financial corporation or a State industrial investment corporation shall be inserted; (b) for Explanation 4, the following Explanation shall be substituted, namely :- Explanation 4 : For the purposes of this section, - (a) public financial institution shall have the meaning assigned to it in section 4A of the Companies Act, 1956 (1 of 1956); (b) State financial corporation means a financial corporation established under section 3 or section 3A or an institution notified under section 46 of the State Financial Corporations Act, 1951 (63 of 1951); (c) State industrial investment corporation means a Government company within the meaning of section 617 of the Companies Act, 1956 (1 of 1956), engaged in the business of providing long-term finance for industrial projects and approved by the Central Government under clause (viii) of sub-section (1) of section 36.