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Arjun reads the present Section 162 and looks for sub-sections (2) and (3). What does the official text show about them?

Sub-sections (2) and (3) of Section 162 have been omitted with effect from 20-5-2003. The current section therefore consists of sub-sections (1), (4) and (5), and Arjun will find no operative text in the omitted numbers.

  1. AThey are in force and deal with pending applications
  2. BThey have been omitted with effect from 20-5-2003Correct
  3. CThey were substituted by the Finance Act in 2005
  4. DThey are replaced by a proviso to sub-section (1)

Explanation

The footnote states sub-sections (2) and (3) were omitted by s. 66 of the amending Act with effect from 20-5-2003. They are not in force, substituted or turned into a proviso.

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