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<h1>Tax Law Clarifies Section 144 Retroactive Application for Assessment Years Before 1988 with Specific Interpretative Guidelines</h1> The amendment modifies section 144 of the Income-tax Act by renumbering the existing provision as subsection (1) and inserting a new subsection (2). The new subsection clarifies that prior provisions of the section, as they existed before the 1987 amendment, shall continue to apply for assessment years starting from April 1, 1988, or earlier, with references interpreted according to provisions applicable during the relevant assessment year.