Carryover treatment for securities received on amalgamation ensures original tax provision applies to those shares or bonds. The amendment provides that where an assessee acquires shares or bonds in a resulting or amalgamated company by virtue of holding shares or bonds in the amalgamating or demerged company in accordance with the referenced operative provision, the provisions of that operative provision shall apply to such acquired shares or bonds.
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.
Carryover treatment for securities received on amalgamation ensures original tax provision applies to those shares or bonds.
The amendment provides that where an assessee acquires shares or bonds in a resulting or amalgamated company by virtue of holding shares or bonds in the amalgamating or demerged company in accordance with the referenced operative provision, the provisions of that operative provision shall apply to such acquired shares or bonds.
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