Income Tax Ordinance, 2001

CHAPTER-I

PRELIMINARY

2. Definitions.- In this Ordinance, unless there is anything repugnant in the subject or context:1[2[[(1B)] “amalgamation” means the merger of one or more banking companies or non-banking financial institutions, 3[or insurance companies,] 4[or companies owning and managing industrial undertakings] 5[or companies engaged in providing services and not being a trading company or companies] in either case 6[at least one of them] being a public company, or a company incorporated under any law, other than 7[Companies Act, 2017 (XIX of 2017)], for the time being in force, (the company or companies which so merge being referred to as the “amalgamating company” or companies and the company with which they merge or which is formed as a result of merger, as the “amalgamated company”) in such manner that -(a) the assets of the amalgamating company or companies immediately before the amalgamation become the assets of the amalgamated company by virtue of the amalgamation, otherwise than by purchase of such assets by the amalgamated company or as a result of distribution of such assets to the amalgamated company after the winding up of the amalgamating company or companies; 8[and](b) the liabilities of the amalgamating company or companies immediately before the amalgamation become the liabilities of the amalgamated company by virtue of the amalgamation 9[.]10[…