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<h1>Provision imposing additional income tax on undistributed profits omitted; amended 1964 and repealed in 1988; prior approval rules removed</h1> The provision imposing additional income-tax on undistributed profits has been omitted. Historical notes show the text was amended in 1964 and later repealed in 1988. Prior to omission, orders by the tax officer under the related provision required prior approval of the inspecting assistant commissioner (with an exception where the Board had decided under a related subsection), and the inspecting assistant commissioner could not grant approval until the company affected had been given an opportunity to be heard.