8. Section 157 of the principal Act is hereby repealed and the following new section is substituted therefor:-
| 157. Where any person chargeable with business turnover tax is liable under the Inland Revenue income tax Act, No. 4 of 1963, then, for the purposes of ascertaining the profits or income of that person for any period under that Act, the business turnover tax which that person is liable to pay for that period shall be allowed as a deduction under section 10 of the Inland Revenue Act: |
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Sri Lanka Consolidated Acts