Withdrawal of exemption in certain cases

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..... y the transferee company into, or is treated by it as, stock-in-trade of its business; or (ii) the parent company or its nominees or, as the case may be, the holding company ceases or cease to hold the whole of the share capital of the subsidiary company, the amount of profits or gains arising from the transfer of such capital asset not charged under section 45 by virtue of the provisions conta .....

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..... tal gains" of the previous year in which such shares are transferred.] 4[(3) Where any of the conditions laid down in the proviso to clause (xiii) or the proviso to clause (xiv) of section 47 are not complied with, the amount of profits or gains arising from the transfer of such capital asset or intangible asset not charged under section 45 by virtue of conditions laid down in the proviso to .....

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..... which the requirements of the said proviso are not complied with.] ------------------------------- Notes :- 1. Inserted by the Taxation Laws (Amendment) Act, 1984, w.e.f. 1-4-1985. 2. Inserted by the Finance Act, 1997, w.e.f. 1-4-1998. 3. Inserted by the Finance Act, 1997, w.e.f. 1-4-1998. 4. Inserted by the Finance (No. 2) Act, 1998, w.e.f. 1-4-1999. 5. After sub-section (3), the sub-secti .....

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