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[Cites 0, Cited by 54] [Section 49] [Entire Act]

Union of India - Subsection

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

(2)Where the capital asset being a share or shares in an amalgamated company which is an Indian company became the property of the assessee in consideration of a transfer referred to in clause (vii) of section 47, the cost of acquisition of the asset shall be deemed to be the cost of acquisition to him of the share or shares in the amalgamating company.