Section 33(3)(b) in The Income Tax Act, 1961

[Cites 0, Cited by 3] [Section 33(3)] [Section 33] [Entire Act]

Union of India - Subsection

Section 33(3)(b) in The Income Tax Act, 1961

(b)the balance of development rebate, if any, still outstanding to the amalgamating company in respect of such ship, machinery or plant 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 rebate 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 ship, machinery or plant for the purposes of this section and section 34.]

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Union of India - Subsection

Section 33(3)(b) in The Income Tax Act, 1961