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[Cites 0, Cited by 0] [Section 33A(5)] [Section 33A] [Entire Act]

Union of India - Subsection

Section 33A(5)(b) in The Income Tax Act, 1961

(b)the balance of development allowance, if any, still outstanding to the amalgamating company in respect of such land shall be allowed to the amalgamated company in accordance with the provisions of sub-section (2), so, however, that the total period for which the balance of development allowance shall be carried forward in the assessments of the amalgamating company and the amalgamated company shall not exceed the period of eight years specified in sub-section (2) and the amalgamated company shall be treated as the assessee in respect of such land for the purposes of this section. ]