Amendment of section 64

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....e Income-tax Act, in sub-section (1) [as it stood immediately before its amendment by section 17 of the Direct Tax Laws (Amendment) Act, 1987 (4 of 1988)],- (a) in clauses (v) and (vii), the bracket....

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....o as "the transferee") are invested by the transferee in any business, that part of the income arising out of the business to the transferee in any previous year, which bears the same proportion to th....