Page:United States Statutes at Large Volume 68A.djvu/959

 CH. 80—GENERAL RULES

919

Subchapter B—Effective Date and Related Provisions Sec. 7851. Applicability of revenue laws. Sec. 7852. Other applicable rules. SEC. 7851. APPLICABILITY OF REVENUE LAWS. (a) GENERAL RULES.—Except as otherwise provided in any section

of this title— (1) SUBTITLE

A.—

(A) Chapters 1, 2, 4, and 6 of this title shall apply only with respect to taxable years beginning after December 31, 1953, and ending after the date of enactment of this title, and with respect to such taxable years, chapters 1 (except sections 143 and 144) and 2, and section 3801, of the Internal Revenue Code of 1939 are hereby repealed. (B) Chapters 3 and 5 of this title shall apply with respect to payments and transfers occurring after December 31, 1954, and as to such payments and transfers sections 143 and 144 and chapter 7 of the Internal Revenue Code of 1939 are hereby repealed. (C) Any provision of subtitle A of this title the applicability of which is stated in terms of a specific date (occurring after December 31, 1953), or in terms of taxable years ending after a specific date (occurring after December 31, 1953), shall apply to taxable years ending after such specific date. Each such provision shall, in the case of a taxable year subject to the Internal Revenue Code of 1939, be deemed to be included in the Internal Revenue Code of 1939, but shall be applicable only to taxable years ending after such specific date. The provisions of the Internal Revenue Code of 1939 superseded by provisions of subtitle A of this title the applicability of which is stated in terms of a specific date (occurring after December 31, 1953) shall be deemed to be included in subtitle A of this title, but shall be applicable only to the period prior to the taking effect of the corresponding provision of subtitle A. (D) Effective with respect to taxable years ending after March 31, 1954, and subject to tax under chapter 1 of the Internal Revenue Code of 1939— (i) Sections 13(b)(3), 26 (b)(2)(C), 26 (h)(1)(C) (including the comma and the word " and " immediately preceding such section), 26 (i)(3), 108 (k), 207 (a)(1)(C), 207 (a)(3) (C), and the last sentence of section 362(b)(3) of such Code are hereby repealed; and (ii) Sections 13(b)(2), 26 (b)(2)(B), 26 (h)(1)(B), 26 (i)(2), 207 (a)(1)(B), 207 (a)(3)(B), 421 (a)(1)(B), and the second sentence of section 362(b)(3) of such Code are hereby amended by striking out "and before April 1, 1954" (and any accompanying punctuation) wherever appearing therein. §7851(a)(l)(D)(ii)

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