TMI BlogAmendment of section 115JB.X X X X Extracts X X X X X X X X Extracts X X X X ..... figures "the Companies Act, 1956 (1 of 1956):", the following shall be substituted, namely: "Every assessee, ( a ) being a company, other than a company referred to in clause ( b ) , shall, for the purposes of this section, prepare its profit and loss account for the relevant previous year in accordance with the provisions of Part II of Schedule VI to the Companies Act, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ( a ) to ( i ) is debited to the profit and loss account or if any amount referred to in clause ( j ) is not credited to the profit and loss account, and as reduced by, ". ( iii ) after Explanation 2, the following Explanation shall be inserted, namely: " Explanation 3. For the removal of doubts, it is hereby clarified that for the purposes of this section, th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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