# The Finance Act, 1967, Section 8: Amendment of section 32

- Act: The Finance Act, 1967 (Act 20 of 1967)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1967/section/8/

## Text

Amendment of section 32 8. In section 32 of the Income-tax Act, in clause (2) of the Explanation to clause (iii) of sub-section (1), after the words "for the time being in force", the following words shall be added, namely:— "but does hot include a transfer, in a scheme of amalgamation, of any asset by the amalgamating company to the amalgamated company where the amalgamated company is an Indian company". [Finance (No. 2) Act, 1967] © Copyright. Taxmann Publications Pvt. Ltd.

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