Section 2 - Amendment of section 10 - Income Tax (Second Amendment) Act, 1998

2. Amendment of section 10 In section 10 of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the Income-tax Act), in clause (23G), the Explanation shall be numbered as Explanation 1 thereof and after Explanation 1 as so numbered, the following Explanation shall be inserted, namely: Explanation 2 . For the removal of doubts, it is hereby declared that any income by way of dividends, interest or long term capital gains of an infrastructure capital fund or an infrastructure capital company from investments made before the 1st day of June, 1998 by way of shares or long term finance in any enterprise carrying on the business of developing, maintaining and operating any infrastructure facility shall not be included and the provisions of this clause as it stood immediately before its amendment by the Finance (No, 2) Act, 1998 (21 o 1998) shall apply to such income. .