Omission of clause (vii) in an Income-tax provision alters the statutory text effective from the stated commencement date. The amendment provides that clause (vii) shall be omitted from the referenced provision of the Income-tax Act, enacted by the Finance Act, 2005, and takes ... Summary
Omission of clause (vii) in an Income-tax provision alters the statutory text effective from the stated commencement date.
The amendment provides that clause (vii) shall be omitted from the referenced provision of the Income-tax Act, enacted by the Finance Act, 2005, and takes effect from the first day of April, 2006, thereby modifying the statutory text and its application prospectively by excising the identified clause.
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