Temporal application of section 273 clarified to apply to specified assessment years with contemporaneous statutory references.

Insertion of subsection (3) to section 273 makes that section applicable to assessments for the assessment year commencing on the first day of April, 1988, and earlier years, and requires references in section 273 to other provisions of the Income tax Act to be construed as references to those provisions as they were in force and applicable to the relevant assessment year.

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