Capital Gains Tax Act, 1975

Liquidation of companies.

41.—Where assets of a company are vested in a liquidator under section 230 of the Companies Act, 1963 , or otherwise, this Act shall apply as if the assets were vested in, and the acts of the liquidator in relation to the assets were the acts of, the company (acquisitions from or disposals to him by the company being disregarded accordingly).