Schedule XIV amendments for insurance business allow later deduction of amounts disallowed under section 35(b). The Schedule substitutes the words 'this paragraph' for 'this rule' in clause (a) of sub paragraph (1) of paragraph 4 and inserts sub paragraph (3) to provide that the amount not deductible under sub clause (i) or (ii) of section 35(b), which is added under sub paragraph (1)(a), shall be allowed subsequently as a deduction in a tax year in accordance with the provisions of the said sub clause.
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Provisions expressly mentioned in the judgment/order text.
Schedule XIV amendments for insurance business allow later deduction of amounts disallowed under section 35(b).
The Schedule substitutes the words "this paragraph" for "this rule" in clause (a) of sub paragraph (1) of paragraph 4 and inserts sub paragraph (3) to provide that the amount not deductible under sub clause (i) or (ii) of section 35(b), which is added under sub paragraph (1)(a), shall be allowed subsequently as a deduction in a tax year in accordance with the provisions of the said sub clause.
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