Section 10 - Amendment of section 44AA - Finance Act, 1997

10. Amendment of section 44AA In section 44AA of the Income-tax Act, in sub-section (2) in clause (ii), for the words during such previous year, , the following shall be substituted with effect from the 1st day of April, 1998, namely :- during such previous year; or (iii) where the profits and gains from the business are deemed to be the profits and gains of the assessee under section 44AD or section 44AE or section 44AF, as the case may be, and the assessee has claimed his income to be lower than the profits or gains so deemed to be the profits and gains of his business, as the case may be, during such previous year, .