Amendment of section 88

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..... orming part of any eligible issue of capital approved by the Board on an application made by a public company in the prescribed form : Provided that where a deduction is claimed and allowed under this clause with reference to the cost of any equity shares or debentures, the cost of such shares or debentures shall not be taken into account for the purposes of sections 54EA and 54EB. Explanation .....

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..... ded that where a deduction is claimed and allowed under this clause with reference to the cost units, the cost of such units shall not be taken into account for the purposes of sections 54EA and 54EB : Provided further that this clause shall apply if the amount of subscription to such units is subscribed only in the eligible issue of capital of any company. Explanation : For the purposes of th .....

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..... substituted.'. (c) in sub-section (6), in clause (ii), for the words "twelve thousand rupees", the words "fourteen thousand rupees" shall be substituted; (d) after sub-section (7), the following sub-section shall be inserted, namely :- "(7A) If any equity shares or debentures, with reference to the cost of which a deduction is allowed under sub-section (1) are so .....

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