https://www.taxtmi.com/manuals?id=977 Transfer of land by a sick industrial company managed by its workers' co-operative may not be regarded as a transfer for capital gains purposes where the transfer is made under a scheme sanctioned under the Sick Industrial Companies Act, 1985. The provision applies only to land as a capital asset, within the prescribed period beginning from the previous year in which the company became sick and ending with the previous year in which its net worth equals or exceeds accumulated losses. The period of holding of the previous owner is not considered. en-us Wed, 26 Aug 2015 09:56:00 +0530 Thu, 28 May 2026 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=977 Transfer of land by a sick industrial company managed by its workers' co-operative may not be regarded as a transfer for capital gains purposes where the transfer is made under a scheme sanctioned under the Sick Industrial Companies Act, 1985. The provision applies only to land as a capital asset, within the prescribed period beginning from the previous year in which the company became sick and ending with the previous year in which its net worth equals or exceeds accumulated losses. The period of holding of the previous owner is not considered. Manuals Income Tax Wed, 26 Aug 2015 09:56:00 +0530 https://www.taxtmi.com/manuals?id=977