Demerger rights transfer: resulting company treated as demerged company for section 35A tax treatment after transfer.

The amendment adds a provision that when a demerged company sells or transfers rights to the resulting company in a scheme of demerger, sub-sections (3) and (4) shall not apply to the demerged company, and the provisions of section 35A shall, as far as may be, apply to the resulting company as they would have applied to the demerged company if the latter had not sold or transferred the rights.

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