Clarifying repeal and savings clause where amount allowed as deduction earlier is to be treated as income in a later year

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Full Text of the Document

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....er the repealed Income-tax Act, 1961, subject to fulfilment of certain conditions, then on violations of such conditions, such amount will be deemed to be income in the tax year in which violation takes place.58 2. However, there are provisions in the repealed Act, where any deduction allowed or any income which has not been included in the total income under the repealed Income-tax Act, 1961 may....