Substitution of New Section For Section 115

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..... 115 of the Income-tax Act, the following section shall be substituted with effect from the 1st day of April, 1972, namely :- 115. Tax on capital gains in case of companies. - Where the total income of .....

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..... on so much of the amount of such long-term capital gains as relate to buildings or lands or any rights in buildings or lands; and (b) at the rate of thirty-five per cent. on the balance of such long- .....

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