Amendment of Section 2

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..... ne or more companies with another company or the merger of two or more companies to form one company (the company or companies which so merge being referred to as the amalgamating company or companies and the company with which they merge or which is formed as a result of the merger, as the amalgamated company) in such a manner that - (i) all the property of the amalgamating company or companies .....

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..... ny or as a result of the distribution of such property to the other company after the winding up of the first mentioned company;'; (b) after clause (37), the following clause shall be inserted, namely :- '(37A) "rate or rates in force" or "rates in force", in relation to an assessment year or financial year, mean - (i) for the purposes of calculating income-tax under the .....

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..... (i) to (iii)", the words, brackets and figure "sub-section (1)" shall be substituted; (ii) after sub-clause (b), the following sub-clause shall be inserted, namely :- "(c) in the case of a capital asset being a share or shares in an Indian company, which becomes the property of the assessee in consideration of a transfer referred to in clause (vii) of section 47, there shal .....

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