Amendment of section 47

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.... by way of redemption, by an assessee being an individual;"; (B) in clause (xiiib), in the proviso,- (I) in clause (e), the word "and" appearing at the end shall be omitted; (II) after clause (e), the following clause shall be inserted, namely:- "(ea) the total value of the assets as appearing in the books of account of the company in any of the three previous years preceding the previous year....

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....6 made under the Securities and Exchange Board of India Act, 1992 (15 of 1992); (b) "consolidated plan" means the plan with which the consolidating plan merges or which is formed as a result of such merger; (c) "mutual fund" means a mutual fund specified under clause (23D) of section 10.'. - Clause 28 of the Bill seeks to amend section 47 of the Income tax Act relating to transactions not reg....

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....xix) in the said section so as to provide that any transfer by a unit holder of a capital asset, being a unit or units, held by him in the consolidating plan of a mutual fund scheme, made in consideration of the allotment to him of a capital asset, being a unit or units, in the consolidated plan of that scheme of the mutual fund shall not be considered as transfer for capital gain tax purposes. I....