# The Finance Act, 2023, Section 33: Amendment of section 72A

- Act: The Finance Act, 2023 (Act 8 of 2023)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2023/section/33/

## Text

Amendment of section 72A. 33.  In section 72A of the Income-tax Act, in sub-section (1), in clause (d), in the Explanation, for clause (iii), the following clause shall be substituted, namely:— '(iii) | "strategic disinvestment" means sale of shareholding by the Central Government or any State Government or a public sector company, in a public sector company or in a company, which results in— (a) | reduction of its shareholding to below fifty-one per cent; and (b) | transfer of control to the buyer: Provided that the condition laid down in sub-clause (a) shall apply only in a case where shareholding of the Central Government or the State Government or the public sector company was above fifty-one per cent before such sale of shareholding: Provided further that requirement of transfer of control referred to in sub-clause (b) may be carried out by the Central Government or the State Government or the public sector company or any two of them or all of them.'.

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