Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2019 Year 2019 This

Deduction granted u/s 32AB - appellant was amalgamated with its ...


Section 32AB Deduction Upheld: Amalgamated Company Retains Assets, Ensures Continued Eligibility for Tax Relief.

August 16, 2019

Case Laws     Income Tax     HC

Deduction granted u/s 32AB - appellant was amalgamated with its parent company - the assets in respect of which relief was allowed u/s 32AB are still held by the amalgamating company even after amalgamation and gets fused by one company - deduction rightly allowed

View Source

 


 

You may also like:

  1. The ITAT held that since the income of the amalgamating company was included in the amalgamated company's income u/s 199(1) read with Section 198, the credit for TDS and...

  2. Computation of depreciation while computing deduction under Section 32AB - HC

  3. Carry forward of investment allowance - unabsorbed depreciation of Amalgamating Company - Section 72A - Claim allowed - HC

  4. Cost of acquisition / Actual cost - Depreciation on assets taken over in pursuant to amalgamation - Value to be taken as "value fixed in pursuant to arrangement between...

  5. This case deals with the validity of assessment proceedings initiated against an amalgamated company for the assessment year 2018-19. The key points are: The Assessing...

  6. Deduction u/s. 32AB - rental income - The court analyzes the definition of "eligible business or profession" under Section 32AB(2)(i) and determines that it encompasses...

  7. Addition u/s 68 - The Tribunal not only took note of the legal position but also the factual position. The Tribunal held that the legal effect after amalgamation of the...

  8. Capital gain - transfer of a capital asset by assessee to its subsidiary company - There are different shareholders of preference share capital other than the holding...

  9. Denial of deduction claimed under Chapter VI-A i.e. Section 80G/ 80GGA read with Section 35AC - The Appellate Tribunal noted that the appellant had not claimed the...

  10. The High Court addressed the validity of a show cause notice (SCN) and final order issued against a non-existent entity, the rectification of procedural defects, and the...

  11. Initiation of CIRP - Whether the Assignment Agreement being unregistered document could not have been relied by the Adjudicating Authority for admitting Section 7...

  12. Amalagamtion - Liability of the amalgamating and amalgamated company - Tribunal was not right in holding that the proceedings against the amalgamated company could not...

  13. HC held assessment orders passed in name of amalgamating companies void ab initio, despite participation of amalgamated company (RIL) in proceedings. Revenue authorities...

  14. Validity of reopening of assessment - notice against non existent entity / amalgamated company - Notices issued.

  15. Amalgamated company is entitled to set off and carry forward the brought forward business losses and unabsorbed depreciation of the amalgamating company from the very...

 

Quick Updates:Latest Updates