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Capital gains on distribution of assets by companies in liquidation

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..... s in liquidation. 46. (1) Notwithstanding anything contained in section 45, where the assets of a company are distributed to its shareholders on its liquidation, such distribution shall not be r .....

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..... ithin the meaning of sub-clause ( c ) of clause ( 22 ) of section 2 and the sum so arrived at shall be deemed to be the full value of the consideration for the purposes of section 48. - - statute, .....

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