Section 8 - Amendment of section 35B - Finance (No. 2) Act, 1980

8. Amendment of section 35B In section 35B of the Income-tax Act, in sub-section (1), with effect from the 1st day of April, 1981, - (a) in clause (b), sub-clauses (ii), (iii), (v), (vi) and (viii) shall be omitted; (b) for Explanation 2 below clause (b), the following Explanation shall be substituted, namely :- Explanation 2 : For the removal of doubts, it is hereby declared that nothing in clause (b) shall be construed to include any expenditure which is in the nature of purchasing and manufacturing expenses ordinarily debitable to the trading or manufacturing account and not to the profit and loss account. .