https://www.taxtmi.com/acts?id=23709 Section 2 of the Income tax Act is amended to add a sub clause bringing amounts or property referenced in clause (x) of sub section (2) of section 56 into the definitional framework. Clause (42A) is expanded to include immovable property (land or building) within the proviso, and Explanation 1 is supplemented to include preference share holding periods when equity shares arise under clause (xb) of section 47 and to include holding periods of units in a consolidating mutual fund plan when units arise under clause (xix) of section 47. en-us Thu, 23 Mar 2017 15:10:46 +0530 Thu, 23 Mar 2017 15:10:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=23709 Section 2 of the Income tax Act is amended to add a sub clause bringing amounts or property referenced in clause (x) of sub section (2) of section 56 into the definitional framework. Clause (42A) is expanded to include immovable property (land or building) within the proviso, and Explanation 1 is supplemented to include preference share holding periods when equity shares arise under clause (xb) of section 47 and to include holding periods of units in a consolidating mutual fund plan when units arise under clause (xix) of section 47. Act-Rules F. Acts / Amendment Acts Thu, 23 Mar 2017 15:10:46 +0530 https://www.taxtmi.com/acts?id=23709