Specified-direction payments: amendment restricts use for land or building acquisition or construction, altering tax treatment. Amendment inserts a parenthetical qualification into sub-section (2A) of section 35, introducing the concept of payments made with a specified direction that the amount shall not be used for the acquisition of any land or building or for the construction of any building, thereby narrowing the statutory description of sums covered by sub-section (2A).
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Provisions expressly mentioned in the judgment/order text.
Specified-direction payments: amendment restricts use for land or building acquisition or construction, altering tax treatment.
Amendment inserts a parenthetical qualification into sub-section (2A) of section 35, introducing the concept of payments made with a specified direction that the amount shall not be used for the acquisition of any land or building or for the construction of any building, thereby narrowing the statutory description of sums covered by sub-section (2A).
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