Successor LLP treatment extends tax provision continuity after company-to-LLP reorganisation under income-tax law. Insertion of sub-section (4A) to section 35DDA (effective 1 April 2011) provides that where a private or unlisted public company is succeeded by a limited liability partnership meeting the proviso to clause (xiiib) of section 47, the provisions of section 35DDA shall, as far as may be, apply to the successor LLP as they would have applied to the company if reorganisation had not occurred; sub-section (5) is amended to include companies referred to in sub-section (4A).
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Provisions expressly mentioned in the judgment/order text.
Successor LLP treatment extends tax provision continuity after company-to-LLP reorganisation under income-tax law.
Insertion of sub-section (4A) to section 35DDA (effective 1 April 2011) provides that where a private or unlisted public company is succeeded by a limited liability partnership meeting the proviso to clause (xiiib) of section 47, the provisions of section 35DDA shall, as far as may be, apply to the successor LLP as they would have applied to the company if reorganisation had not occurred; sub-section (5) is amended to include companies referred to in sub-section (4A).
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