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        F. Acts / Amendment Acts

        Section 28 - Amendment of section 70

        Finance Act, 1987
        Chapter III
        DIRECT TAXES
        INCOME-TAX

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        Section 70 amendment removes the 'capital gains' exclusion and omits subsection two, altering taxable income treatment. Amendment to the Income-tax Act deletes the parenthetical subsection marker, removes the phrase excluding capital gains from section 70, and omits the former subsection two, thereby bringing capital gains within the section and eliminating the separate subordinate provision.
                        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 70 amendment removes the 'capital gains' exclusion and omits subsection two, altering taxable income treatment.

                              Amendment to the Income-tax Act deletes the parenthetical subsection marker, removes the phrase excluding capital gains from section 70, and omits the former subsection two, thereby bringing capital gains within the section and eliminating the separate subordinate provision.


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