(6)For the purposes of this section,––(a)"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;(b)"successor in business" means––(i)the amalgamated company, where there has been an amalgamation;(ii)the resulting company, where there has been a demerger;(iii)where the assessee is succeeded by any other person in that business or profession, that other person;(iv)where a firm carrying on a business or profession is succeeded by another firm, that other firm.
