(12)For the purposes of this section,––(a)"assets" mean—(i)tangible assets, being buildings, machinery, plant or furniture;(ii)intangible assets being––(A)know-how; or(B)patents; or(C)copyrights; or(D)trademarks; or(E)licences; or(F)franchises; or(G)any other similar business or commercial rights, but not being goodwill of a business or profession;(b)"know-how" means any industrial information or technique likely to assist in the manufacture or processing of goods or in the working of a mine, oil-well or other sources of mineral deposits (including searching for discovery or testing of deposits for the winning of access thereto);(c)"sold" includes a transfer by way of exchange or a compulsory acquisition under any law for the time being in force but does not 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 or in a scheme of amalgamation of a banking company, as referred to in section 5(c) of the Banking Regulation Act, 1949 with a banking institution as referred to in section 45(15) of the said Act, sanctioned and brought into force by the Central Government under section 45(7) of that Act, of any asset by the banking company to the banking institution;(d)"written down value of the block of assets" shall have the same meaning as in section 41(1)(c).
