Exemption for receipt of shares on corporate demerger or amalgamation removes taxable income treatment for individuals and HUFs. Amendment exempts receipt of shares by an individual or Hindu undivided family on account of demerger or amalgamation from being charged as income from other sources, by inserting a new proviso clause which treats such receipts as not constituting taxable income and by linking the exclusion to transactions already 'not regarded as transfer' under specified non transfer provisions; the amendment is given prospective effect from the stated commencement date.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exemption for receipt of shares on corporate demerger or amalgamation removes taxable income treatment for individuals and HUFs.
Amendment exempts receipt of shares by an individual or Hindu undivided family on account of demerger or amalgamation from being charged as income from other sources, by inserting a new proviso clause which treats such receipts as not constituting taxable income and by linking the exclusion to transactions already 'not regarded as transfer' under specified non transfer provisions; the amendment is given prospective effect from the stated commencement date.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
