Infrastructure facility: energy-efficient public lighting held integral to road projects, qualifying the operator as a developer and eligible for dedu...
Fourth Proviso to Section 153A: extended-period inquiry requires a reasonable, material-based satisfaction that escaped income likely exceeds the thre...
ITAT held that post-01.04.2007 amalgamation triggers the statutory bar in section 80IA(12A), which excludes continuation of the deduction where an eligible undertaking is transferred under amalgamation or demerger; the amalgamated company was therefore ineligible for section 80IA relief. It also held that section 80JJAA(2)(b) denies deduction where the business is acquired by transfer or as a result of business reorganisation, and an amalgamation falls within that bar because the undertaking, assets and liabilities stand transferred to the resultant company. Both deductions were thus disallowed and the Revenue's appeal succeeded.
ITAT held that post-01.04.2007 amalgamation triggers the statutory bar in section 80IA(12A), which excludes continuation of the deduction where an eligible undertaking is transferred under amalgamation or demerger; the amalgamated company was therefore ineligible for section 80IA relief. It also held that section 80JJAA(2)(b) denies deduction where the business is acquired by transfer or as a result of business reorganisation, and an amalgamation falls within that bar because the undertaking, assets and liabilities stand transferred to the resultant company. Both deductions were thus disallowed and the Revenue's appeal succeeded.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
