Capital gains on distribution of assets by companies in liquidation.

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....ts by companies in liquidation. 68. (1) Irrespective of anything contained in section 67, where the assets of a company are distributed to its shareholders on its liquidation, such distribution sha....

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....tion, as reduced by the amount assessed as dividend within the meaning of section 2(40)(c); and (b) the sum so arrived at shall be deemed to be the full value of the consideration for the pur....