Amendment of section 50

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Full Text of the Document

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....tion, reduction of the amount of goodwill of a business or profession, from the block of asset in accordance with subitem (B) of item (ii) of sub-clause (c) of clause (6) of section 43 shall be deemed to be transfer.". - Clause 15 seeks to amend section 50 of the Income-tax Act relating to special provision for computation of capital gains in case of depreciable assets. The said section pr....