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[Cites 0, Cited by 0] [Section 35] [Entire Act]

Union of India - Subsection

Section 35(2D) in Finance Act, 1999

(2D)The cost of acquisition of the original shares held by the shareholder in the demerged company shall be deemed to have been reduced by the amount as so arrived at under sub-section (2C).Explanation. - For the purposes of this section, "net worth" shall mean the aggregate of the paid up share capital and general reserves as appearing in the books of account of the demerged company immediately before the demerger.'.