# The Finance Act, 1967, Section 19: Amendment of section 47

- Act: The Finance Act, 1967 (Act 20 of 1967)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1967/section/19/

## Text

Amendment of section 47 19. In section 47 of the Income-tax Act, after clause (v), the following clauses shall be added, namely:— "(vi) any transfer, in a scheme of amalgamation, of a capital asset by the amalgamating company to the amalgamated company if the amalgamated company is an Indian company; (viz) any transfer by a shareholder, in a scheme of amalgamation, of a capital asset being a share or shares held by him in the amalgamating company if— (a) the transfer is made in consideration of the allotment to him of any share or shares in the amalgamated company, and (b) the amalgamated company is an Indian company.". [Finance (No. 2) Act, 1967] © Copyright. Taxmann Publications Pvt. Ltd.

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