Insertion of new section 107A

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....(not being an investment company) considers that, having regard to the current requirements for the development of its business, it would not be possible or advisable for it to declare or pay a dividend of an amount larger than that already declared or paid or proposed to be declared or paid by it, it may make an application to the Board for reduction of the amount of the minimum distribution requ....

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....the company under this Chapter by such amount, not exceeding twenty per cent. of the statutory percentage-of its distributable income, as it may consider fit and further determine the period within which such distribution shall be made. (5) The Board shall not reject an application made under sub-section (1) without giving the company concerned an opportunity of being heard and its decisi....

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.... gains in accordance with the decision of the Board and fails to make such distribution or further distribution within the period determined thereunder, the Income-tax Officer shall make an order under section 104 as if no reduction of the amount of minimum distribution had been made by the Board under this section. (8) If the Central Government is of opinion that it is necessary or exped....