Search-assessment proviso jurisdiction, time-barred valuation reports, and denial of cross-examination vitiate valuation-based and confession-based ad...
Proceeds of crime: provisional attachment confirmed; equivalent value attachment and acquisition date fair market value upheld, Covid exclusion preser...
Effective service requirement: officers must explore alternative service modes beyond the GST portal and afford personal hearing; non-compliance voids...
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 
