(ii)a right to ] [any annuity (not being an annuity purchased by the assessee or purchased by any other person in pursuance of a contract with the assessee)] [ Substituted by Act 20 of 1974, Section 14, for " any annuity" (w.e.f. 1.4.1975).][in any case where the terms and conditions relating thereto preclude the commutation of any portion thereof into a lump sum grant; [Substituted by Act 46 of 1964, Section 2, for Clauses (b), (c) and (d) (w.e.f. 1.4.1965).]