XTRAORDINARY UMY TYW WA AT PUBLISHED BY AUTHORITY ac 80 W F, wmaam, 18 बधिन, 1995, 28 होड, 1917 (नक) No.80 Dispur, Tuesday, 18th April, 1995, 28th Chaitra, 1917 (5. 1.) : GOVERNMENT OF ASSAM ORDERS BY THE GOVERNOR LEGISLATIVE DEPARTMENT : LEGISLATIVE BRANCH NOTIFICATION ' - The 18th April, 1995 No. LGL. 45/93/124. ~The following Act of the Assam Legislative Assembly which received the assent of the Gevernor is hereby published for general information.
5147' 'HE ASSAM GAZETTE, EXTRAORDINAKy, APR, 18, 1465 A*SAM ACT NO. VII OF 1995 (Received the assent of t! € Governor cn 18th April, 1995) THE ASSAM AGRICULTURAL INCOME-TAX " (AMENDMEANT ACT, 1495 AN ACT furt"er to amend the Assam Agricultural Income-Tax Act, 1939, Preamble. Whereas it is expedient fu:ther 10 amend the Assam Ay Assam Agricu'tural Iucou e Tax Act, 1939 hercin- IX of 1939 atter referred to as the principal Act, in the manger hereinufter appearing ; It is herchy enacted in the Fortv-sixth Year of the Republic of I.dia 85 follsws ;— Short title 1, (1) This Act may be called the Assam Agri- extent सात culwral Irc. me Tax (Amend ment) Act, 1995, cOmMence— ent (2) Tt shall have the like extent as the prin- cipal Act, (3) It shall come into force at once, Amendement 2. (1) In the principal Act, ip Section 8, in Avnosfssem.(“oAn8t,sub-secu‘un (3), for the w.rds “befope. furnishing 1X ot 1930, the “return of his income™ occurring in between the words “Corporation” and ‘‘in” the wcerds “in the previous year” :shall be substitutec, (2) In- the principal Act, in. Secticrn 8, sub- section (4) shall be substituted as follows :— “(4) (a) In determining the net agricultural in- come, any amount fnvested in the setting uo of power generation units and industrial usits within the State of Assam other than tea plantation aug: manufacturing sball be all'wed as deduction to the asssssce from his agricultural incon €, provided the same has not already been allowed as deduction under any other provision of this Act or under any pro- vis ons of the Income Tax Act, 1961 or the same has not be: received as any- subsidy or grant by rthe assessee from te Govern— ment of Indic or फिट Governmen: of Assam.
THE ASSAM GAZR वि GUWAHATI-Printed & Published by the Dy. Director (b) For the purpese of this spbsection, हट Stete Gove nment shall have the power to formu- late a sc.eme by notification in the Oificial Gazette, specifying tne indusuies which shall be eligible for th: beperits of the scheme and muy, by anotifica- tion in the official Gazette, specify the cond tions, subject to whch +he benefits of ke scheme u ay be extend.d tv the power gereratiin upits or the industr.ai urits. (c) The State Government may, from time to time andin the public intrrest, modify, amen1 or alter the s:heme in suca manper and to such extenpt as the State Government may deem fit, (d) Any scteme formulated under this Sub- section sball, as toon as may be after it is notified in the Ofticial Gazette, be laid before the house of State Legislature, while itisin sessien for a total pericd of thirty days, which may be comg rised In one or more session in which it is so Jaid or the session immediately follcwing and if, the House agrees in making any modifi.ation in the schems, the scheme shail thereafter have effect only in such modified form : Provided that any such modification shall be without prejudice to the validity of any thing previously done under the scheme. (e) Any scheme fermulated and mcdified under this sub-section or any modification, amendment, alteration or re-enactment thereof shall be deemed to torm a part oi the Assam Agriculiural Incomxe Tax Act, 1939 and all tbe provisions of the said Act shall apply eccordingly. ” ‘ RWIepcal and 3. (1) The As:am Agricultural Income Tax Savings, Second Amendment) Ordinance, 1994 is hereby repealed. (2) Notwithstanding such repeal, anything done or any action taken under the Ordinance 80 re- pealed shall be deemed to have been done or taken under the corresponding provisions of this Act, as if this Act, had come into force on the date the said Ordinance came into force. M K. DEKA, TTE, EXTRAORDINARY, APR. 18,1995 515 Assam Or- dinance No, XII of 1994, Joint Secy. and I/C Secy. to the Govt. of Assam, Legislative Department, (P &S ), Directorate of Ptg & Sty., Assam, Guwahati-21 (Ex-Gazette) No. 159— 74(— 400—18-4-1.95,