78TH CONG., 2D SESS.-CH. 63 -FEB. 25, 1944 year in which the acquisition occurred, and such basis shall not be adjusted under subsection (b) (3) by reason of a discharge of indebtedness pursuant to the plan of reorganization under which such transfer was made." (d) TECHNICAL AMENDMENTS. - (1) Section 112 (c) (relating to gain from exchanges not solely inkind) is amended by inserting after "(b) (1), (2), (3), or 5)", the following: ", or within the provisions of subsection 1),", and by inserting after "paragraph" the following: "or by subsection (1)". (2) Section 112 (d) (relating to gain of corporation) is amended by inserting after "subsection (b) (4)" the following: "or (10)". (3) Section 112 (e) (relating to loss from exchanges not solely in kind) is amended by inserting after "subsection (b) (1) to (5), inclusive," the following: "or (10), or within the provisions of subsection (1),". (4) So much of section 112 (g) (defining "reorganization") as precedes paragraph (1) is amended to read as follows: "(g) DEFINmION OF REORGANIZATION.- As used in this section (other than subsection (b) (10) and subsection (1)) and in section 113 (other than subsection (a) (22))-" . (5) Section 112 (k) (relating to assumption of liability) is amended by striking out "subsection (b) (4) or (5)" wherever appearing therein and inserting in lieu thereof the following: "subsection (b) (4), (5), or (10)". (6) Section 718 (a) (6) (A) is amended by striking out "112 (b) (3), (4),or (5), or so much of section 112 (c), (d), or (e) as refers to section 112 (b) (3), (4), or (5)" and inserting in lieu thereof "112 (b) (3), (4), (5), or (10), or so much of section 112 (c), (d),or (e) as refers to section 112 (b) (3), (4), (5),or (10)". (e) EFFECTIVE DATE. - Provisions having the effect of the amend- ments made by subsection (a), subsection (c) (3), and subsection (d) (2), (3), (4), (5), and (6), shall be deemed to be included in the revenue laws respectively applicable to taxable years beginning after December 31, 1933, but shall not affect any tax liability for any tax- able year beginning prior to January 1, 1943. Provisions having the effect of the amendments made by subsection (b), subsection (c) (1) and (2), and subsection (d) (1), shall be deemed to be included in the revenue laws respectively applicable to taxable years beginning after December 31, 1931. SEC. 122. REORGANIZATION BY ADJUSTMENT OF CAPITAL STRUC- TURE PRIOR TO SEPTEMBER 22, 1938. (a) IN GENERAL. -Section 113 (b) (relating to adjustments to the basis of property) is amended by inserting at the end thereof the following "f4) ADJUSTMENT OF CAPITAL STRUCTRE P RIOR TO SEPTEMBER 22, 1938.- Where a plan of reorganization of a corporation, approved by the court in a proceeding under section 77B of the National Bankruptcy Act, as amended, is consummated by adjust- ment of the capital or debt structure of such corporation without the transfer of its assets to another corporation, and a final judg- ment or decree in such proceeding has been entered prior to Sep- tember 22,1938, then the provisions of section 270 of the National Bankruptcy Act, as amended, shall not apply in respect of the property of such corporation. For the purposes of this para- 53 Stat. 875. 26U.S.0.§113(b) (3). 53 Stat. 39. 26 U. . 0. §112(c). Ante, p. 42 . 53 Stat. 39. 26 U. S.. §112 (d). Ante, p. 41 . 53 Stat. 39. 26 U.S .. . §112(e). Ante, pp. 41,42. 53 Stat. 40. 26U.S.C. §112(g) 53 Stat. 40. 26U.S. C. §113; Supp. III , 113. Agte, pp. 41, 42; infra; post, p. 46 . 53 Stat. 870. 26U. .C. §112(k). Ante, p. 41. 55 Stat. 702. 26U. S . C., Supp. mI, §718 (a) (6) (A). Ante. P.41L 53 Stat. 44. 26U. S. 0. 113(b); Supp. m, §113 (b). 48 Stat. 912 11U.S.C.§207 note. 52 Stat. 04 . 11U .S.0. 60. 58 STAT.] 43
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