- In section 28 of the Income-tax Act, with effect from the 1st day of April, 2019, -(I)in clause (ii), after sub-clause (d), the following sub-clause shall be inserted, namely:-"(e) any person, by whatever name called, at or in connection with the termination or the modification of the terms and conditions, of any contract relating to his business;";(II)after clause (vi), the following clause shall be inserted, namely: -"(via) the fair market value of inventory as on the date on which it is converted into, or treated as, a capital asset determined in the prescribed manner;".
