9911796707
TMI BlogAmendment of Section 4X X X X Extracts X X X X X X X X Extracts X X X X ..... and letters "after the 31st day of March, 1964", the words, figures and letters "after the 31st day of March, 1964, but before the 1st day of April, 1972" shall be substituted; (ii) in clause (b), for the words "member of an association of person", the words and brackets "member of an association of persons (not being a co-operative housing society)" shall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ual under this Act for any assessment year commencing on or after the 1st day of April, 1972, - (a) the individual shall be deemed to have transferred the converted property, through the family, to the members of the family for being held by them jointly; (b) the converted property or any part thereof, in so far as it is attributable to the interest of the individual in the property of the fam ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... family or, as the case may be, the spouse or minor child of the individual."; (c) after sub-section (6) and before the Explanation, the following sub-section shall be inserted, namely :- "(7) Where the assessee is a member of an association of persons, being a co-operative housing society, and a building or part thereof is allotted or leased to him under a house building scheme of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... omitted; (ii) after clause (b), the following clauses shall be inserted, namely :- '(c) the expression "property" includes any interest in property, movable or immovable, the proceeds of sale thereof and any money or investment for the time being representing the proceeds of sale thereof and where the property is converted into any other property by any method, such other property; a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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