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of <h1>Income-Tax Act Section 155 Amended: New Rules for Capital Gains and Foreign Exchange Income Deductions Effective 1991.</h1> Section 155 of the Income-tax Act is amended to include two new sub-sections effective from October 1, 1991. Sub-section (11) allows the Assessing Officer to amend assessments to exclude capital gains from tax if the taxpayer acquires a new asset or invests the gain within an extended period under section 54H. Sub-section (12) permits amendments to assessments for years before April 1, 1988, to allow deductions under section 80-O for income received in foreign exchange and brought into India, with specific time exclusions for computing the four-year amendment period.
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