Amendment to income tax law removes clause (iv) of section 55(2), narrowing statutory asset valuation rules. Amendment to the Income-tax Act excises clause (iv) of sub-section (2) of section 55, removing that provision from the statutory framework for computing taxable gains and narrowing the Act's valuation or computation mechanisms while leaving other provisions intact.
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Amendment to income tax law removes clause (iv) of section 55(2), narrowing statutory asset valuation rules.
Amendment to the Income-tax Act excises clause (iv) of sub-section (2) of section 55, removing that provision from the statutory framework for computing taxable gains and narrowing the Act's valuation or computation mechanisms while leaving other provisions intact.
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