Amendment of section 58

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....t, after sub-section (3), the following sub-section shall be inserted with effect from the 1st day of April, 1987, namely :- '(4) In the case of an assessee having income chargeable under....

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....ovided that nothing contained in this sub-section shall apply in computing the income of an assessee, being the owner of horses maintained by him for running in horse races, from the activity of ownin....