Amendment of section 115JB.

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..... the following shall be substituted, namely:-- "Every assessee,-- (a) being a company, other than a company referred to in clause (b), shall, for the purposes of this section, prepare its profit and loss account for the relevant previous year in accordance with the provisions of Part II of Schedule VI to the Companies Act, 1956 (1 of 1956); or (b) being a company, to which the proviso to sub- .....

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..... nt, and as reduced by,--". (iii) after Explanation 2, the following Explanation shall be inserted, namely:-- "Explanation 3.-- For the removal of doubts, it is hereby clarified that for the purposes of this section, the assessee, being a company to which the proviso to sub-section (2) of section 211 of the Companies Act, 1956 (1 of 1956) is applicable, has, for an assessment year commencing on .....

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