Amendment to section 115B expands the relevant previous years for consecutive assessment years and revises proviso wording. The amendment to subsection (2) replaces the singular reference to the "previous year" relevant to a single assessment year with wording covering the ... Summary
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Amendment to section 115B expands the relevant previous years for consecutive assessment years and revises proviso wording.
The amendment to subsection (2) replaces the singular reference to the "previous year" relevant to a single assessment year with wording covering the "previous years" relevant to two consecutive assessment years, and the proviso is amended to substitute "previous year" with "previous years", thereby broadening the temporal scope of the provision.
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