Section 21 - Amendment of section 79 - Finance Act, 1988

21. Amendment of section 79 In section 79 of the Income-tax Act, with effect from the 1st day of April, 1989, - (a) in clause (a), - (i) the word or occurring at the end shall be omitted; (ii) the following proviso shall be added at the end, namely :- Provided that nothing contained in this section shall apply to a case where a change in the said voting power takes place in a previous year consequent upon the death of a shareholder or on account of transfer of shares by way of gift to any relative of the shareholder making such gift. . (b) clause (b) shall be omitted.