Majority control threshold for companies under the income-tax provision raised to a higher supermajority by textual provisos. The amendment inserts provisos into two subsections of the income-tax provision so that, for an assessee that is a company, the existing proportional requirement in each subsection is to be treated as substituted by a higher proportional requirement wherever the original proportion appears, with effect from 1 September 1980.
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Provisions expressly mentioned in the judgment/order text.
Majority control threshold for companies under the income-tax provision raised to a higher supermajority by textual provisos.
The amendment inserts provisos into two subsections of the income-tax provision so that, for an assessee that is a company, the existing proportional requirement in each subsection is to be treated as substituted by a higher proportional requirement wherever the original proportion appears, with effect from 1 September 1980.
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