law: Industrial Finance Corporation (Transfer of Undertaking and Repeal) Act, 1993
  6. Tax exemption or
  
  benefit to continue to have effect.-
  1.  
  
    Where
  
  any exemption from, or any assessment with respect to, any tax has been granted
  
  or made or any benefit by way of set off or carry forward of any unabsorbed
  
  depreciation or investment allowance or other allowance or loss has been
  
  extended or is available to the Corporation under the Income-tax Act, 1961 (43
  
  of 1961), such exemption, assessment or benefit shall continue to have effect
  
  in relation to the Company.
  2.  
  
    Where
  
  any payment made by the Corporation is exempt from deduction of tax at source
  
  under any provision of the Income-tax Act, 1961 (43 of 1961), such exemption
  
  will continue to be available as if the provisions of the said Act made
  
  applicable to the Corporation were operative in relation to the Company.
  3.  
  
    The
  
  transfer and vesting of the undertaking or any part thereof in terms of section
  
  3 shall not be construed as a transfer within the meaning of the Income-tax
  
  Act, 1961 (43 of 1961) for the purposes of capital gains.