New Income Tax Bill 2025 vs. Taxation of slump sale: What has changed.

Here is an observation, in the new proposed Income Tax Bill 2025 on slump sale.

Hitherto, Explanation 3 to section 2(42C) of Income tax act 1961 on slump sale specifically mentions that transfer shall have the meaning assigned under section 2(47) of the Income Tax Act 1961.

Now, reference to explanation 3 is absent under section 103(a) definition of Slump sale in New income tax bill 2025 .

Open point therefore is :

1) Whether specific reference to ‘transfer’ definition under new bill is avoided for simplicity and it implies that ‘transfer’ under section 109 of the new income tax bill 2025 includes exchange anyways since it mentions transfer of one or more undertaking, by any means and so slump sale includes slump exchange

Or

2) It is a mere drafting oversight which will be corrected eventually

Or

3) Slump sale does not include Slump Exchange since word transfer used in new section needs to take colour of Sale in absence of specific explanation as in old Act.

So, can one place reliance on old favorable judgments prior to the amendment?

(1) or (2) may be a more plausible interpretation

However a clarification in this regard will be welcome more so for consistency with Income tax Act 1961.