48. The Profits Tax Act is hereby repealed with effect from April 1, 1958 :
Provided that the repeal of such Act shall not affect the liability to profits tax-
| (a) in the case of an individual, in respect of any period prior to April 1, 1958, and |
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| (b) in the case of a company, in respect of any period prior to the period the profits or income for which are or is included in the assessable income of such company, for the purposes of income tax, for the year of assessment commencing on April 1, 1958,
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Sri Lanka Consolidated Acts