Transfer of research capital assets: deduction denied to transferor; transferee inherits the section's application to the asset.

Where an amalgamating company transfers an asset representing capital expenditure on scientific research to the amalgamated company, the amalgamating company is not allowed the deduction under clause (ii) or clause (iii) of sub-section (2), and the provisions of the section shall, so far as may be, apply to the amalgamated company as they would have applied to the amalgamating company if the latter had not transferred the asset.

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