15. Section 29 of the principal enactment is hereby amended as follows: "
| (1) in paragraph (b) of subsection (2) of that section, by the substitution for the words and figures " the amount of a loss other than a capital loss or a loss referred to in subsection (7) incurred by him", of the words and figures "the amount of a loss (other than a capital loss, a loss referred to in i subsection (7), or a loss referred to in subsection (7A)), incurred by him"; |
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| (2) in paragraph (a) of subsection (3) of that section, by the substitution, for the words and figures " section 17A, or section 22A or section 22B, or section 22c, or section 22D, or section 22DD of this Act,", of the words and figures "section 17A, or section 17B. or section 17c, or section 17D, or section 17G, or section 17H, or section 22A or section 22B. or section 22c, or section 22D, or section 22DD, or section 22DDD, or section 22DDDD of this Act,"; and |
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| (3) by the insertion, immediately after subsection (7) of that section, of the following subsection : "
| | " (7A) There shall be deducted from the total statutory income of a person for any year of assessment, commencing on or after April 1. 1092, where such income includes profits and income of any foreign currency banking unit arising from on-shore foreign currency transactions and which are not exempt from income tax under this Act, any loss for any year of assessment commencing on or after April 1, 1991 incurred by such foreign currency banking unit from on-shore foreign currency transactions which if it had been a profit would have been assessable under this Act, and which has not been so deducted from his total statutory income of a previous year : | | |
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Sri Lanka Consolidated Acts