Section 93 - Amendment of section 45 - Direct Tax Laws (Amendment) Act, 1989

93. Amendment of section 45. In section 45 of the Gift-tax Act, for Explanations 1 and 2 [as they stood immediately before their substitution by section 184 of the Direct Tax Laws (Amendment) Act, 1987 (4 of 1988)], the following Explanation shall be substituted, namely :- Explanation 1 .- For the purposes of clause (b), the term amalgamation shall have the meaning assigned to it in clause (1B) of section 2 of the Income-tax Act. .