Amendment of section 170

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..... other proceedings, made on the predecessor during the course of pendency of such reorganisation, shall be deemed to have been made on the successor and all the provisions of this Act shall, so far as may be, apply accordingly. Explanation. For the purposes of this sub-section, the expressions, (i) business reorganisation means the reorganisation of business involving the amalgamation or de-merger .....

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..... a deeming provision in order to save and validate the proceedings and to hold the assessment or other proceedings pending or completed on the predecessor in the event of a business reorganisation, to be held in the hands of the successor and to insert an Explanation to define the expressions, (i) business reorganisation means the reorganisation of business involving the amalgamation or de-merger o .....

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