Reference date for income-tax valuation adjusted, changing which prior acquisitions are treated for tax purposes. The amendment substitutes every occurrence of the figures, letters and words "1st day of January, 1954" in Section 55 of the Income-tax Act with "1st day ... Summary
Reference date for income-tax valuation adjusted, changing which prior acquisitions are treated for tax purposes.
The amendment substitutes every occurrence of the figures, letters and words "1st day of January, 1954" in Section 55 of the Income-tax Act with "1st day of January, 1964", with the substitution taking effect from the 1st day of April, 1978.
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