# The Finance Act, 1967, Section 14: Amendment of section 35A

- Act: The Finance Act, 1967 (Act 20 of 1967)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1967/section/14/

## Text

Amendment of section 35A 14. In section 35A of the Income-tax Act, after sub-section (5), the following sub-section shall be inserted, namely:— "(6) Where, in a scheme of amalgamation, the amalgamating company sells or otherwise transfers the rights to the amalgamated company (being an Indian company),— (i) the provisions of sub-sections (3) and (4) shall not apply in the case of the amalgamating company; and (ii) the provisions of this section shall, as far as may be, apply to the amalgamated company as they would have applied to the amalgamating company if the latter had not so sold or otherwise transferred the rights.". [Finance (No. 2) Act, 1967] © Copyright. Taxmann Publications Pvt. Ltd.

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