(b)being a company, to which the proviso to sub-section (2) of section 211 of the Companies Act, 1956 (1 of 1956). is applicable, shall, for the purposes of this section, prepare its profit and loss account for the relevant previous year in accordance with the provisions of the Act governing such company:";(ii)in Explanation 1, after clause (i), for the words, brackets and letters "if any amount referred to in clauses (a) to (i) is debited to the profit and loss account, and as reduced by, - ", the following shall be substituted, namely: -
