Substitution of New Section for Section 115

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..... the head Capital gains (whether such gains relate to short term capital assets or to other assets), the income tax payable by it shall be the aggregate of (i) the amount of income tax calculated at the rate of twelve and a half per cent. on the amount of capital gains relating to bonus shares, if any, chargeable under sub section (2) of section 45 as reduced by an amount equal to twelve and a half .....

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