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[Cites 0, Cited by 0] [Section 49] [Entire Act]

Union of India - Subsection

Section 49(2AE) in The Income Tax Act, 1961

(2AE)Where the capital asset, being equity share of a company, became the property of the assessee in consideration of a transfer referred to in clause (xb) of section 47, the cost of acquisition of the asset shall be deemed to be that part of the cost of the preference share in relation to which such asset is acquired by the assessee.