Amendment of section 2

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....ccumulated profits, whether capitalised or not, or loss, as the case may be, shall be increased by the accumulated profits, whether capitalised or not, of the amalgamating company on the date of amalgamation."; (b) with effect from the 1st day of April, 2019,-- (i) in clause (24),-- (A) after sub-clause (xii), the following sub-clause shall be inserted, namely:-- ....

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....lanation 2 to the said clause clarifies the expression "accumulated profits" for the purposes of the said clause. It is proposed to insert a new Explanation to the said clause to provide that in the case of an amalgamated company, accumulated profits or loss in the hands of the amalgamated company shall be increased by the accumulated profits of the amalgamating company, whether ....