(1)Notwithstanding anything contained in any other provisions of this Act and section 32 of the Unit Trust of India Act, 1963 (52 of 1963), [any amount of income distributed on or before the 31st day of March, 2002 by the Unit Trust of India to its unit holders] [ Substituted by Act 20 of 2002, Section 54, for certain words (w.e.f. 1.4.2003).] shall be chargeable to tax and the Unit Trust of India shall be liable to pay additional income-tax on such distributed income at the rate of [ten per cent.] [ Substituted by Act 14 of 2001, Section 57, for " twenty per cent." (w.e.f. 1.6.2001).]:Provided that nothing contained in this sub-section shall apply in respect of any income distributed to a unit holder of open-ended equity oriented funds in respect of any distribution made from such fund for a period of three years commencing from the 1st day of April, 1999.
