The CBDT has exempted from income tax the purchase of shares at rates lower than the market price in companies undergoing insolvency proceedings and whose board has been taken over by the Govt. Also investors in troubled debt-ridden Yes Bank who have invested in shares at a price lower than the fair market value have been given income tax (I-T) exemption on their discounted investment price. The CBDT through a notification said the exemptions would come into effect from April 1, 2020, and shall be applicable for the assessment year 2020-21 and thereafter. The I-T exemption has been given on any movable property, being unquoted shares, of a company and its subsidiary received by a shareholder, where, the tribunal on an application moved by the central Govt has suspended the board of directors of such company and has appointed new directors.