Sold - Definition / Legal Terminology - Income Tax

Explanation 2 -For the purposes of sub-section (3) of section 41 of the Income tax Act 1961 , 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.