- In section 80JJAA of the Income-tax Act, with effect from the 1st day of April, 2016, -(a)in sub-section (1), the words ",being an Indian company," shall be omitted;(b)in sub-section (2), for clause (a), the following clause shall be substituted, namely: -"(a) if the factory is acquired by the assessee by way of transfer from any other person or as a result of any business reorganisation;";(c)in the Explanation, in clause (i), for the words "one hundred workmen", the words "fifty workmen" shall be substituted.
