Amendment to income tax law removes clause (iv) of section 55(2), narrowing statutory asset valuation rules. Amendment to the Income-tax Act excises clause (iv) of sub-section (2) of section 55, removing that provision from the statutory framework for computing ... Summary
Amendment to income tax law removes clause (iv) of section 55(2), narrowing statutory asset valuation rules.
Amendment to the Income-tax Act excises clause (iv) of sub-section (2) of section 55, removing that provision from the statutory framework for computing taxable gains and narrowing the Act's valuation or computation mechanisms while leaving other provisions intact.
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