Interpretation of expression "Initial issue of equity share capital" used in clause (xx) of sub-section (1)

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Full Text of the Document

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....ended by the Finance (No. 2) Act, 1971. Prior to this amendment, the value of any equity shares, held by the assessee in any company of the type referred to in clause (d) of section 45, i.e., a company established with the object of carrying on an industrial undertaking in India where such shares formed part of the initial issue of equity share capital made by the company after March 31, 1964, was....