Section 198 amendment excludes unrealised and revaluation gains from distributable profits and exempts certain investment companies. Amendment revises calculation of distributable amounts by excluding from distributable profits any unrealised gains, notional gains or asset revaluations and by excepting companies qualifying as investment companies under the Explanation to section 186 from certain sales-based inclusions; it also omits a temporal phrase in subsection (4)(l) limiting application to matters beginning at or after commencement of the Act.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Section 198 amendment excludes unrealised and revaluation gains from distributable profits and exempts certain investment companies.
Amendment revises calculation of distributable amounts by excluding from distributable profits any unrealised gains, notional gains or asset revaluations and by excepting companies qualifying as investment companies under the Explanation to section 186 from certain sales-based inclusions; it also omits a temporal phrase in subsection (4)(l) limiting application to matters beginning at or after commencement of the Act.
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