Clause 12 - Amendment of Section 49 - Finance Bill, 2008

12. In section 49 of the Income-tax Act, for sub-section ( 2A ), the following sub-section shall be substituted, namely:— ''( 2A ) Where the capital asset, being a share or debenture of a company, became the property of the assessee in consideration of a transfer referred to in clause ( x ) or clause ( xa ) of section 47, the cost of acquisition of the asset to the assessee shall be deemed to be that part of the cost of debenture, debenture-stock, bond or deposit certificate in relation to which such asset is acquired by the assessee.".