Central Government specifies that where the split up or the reconstructed authority or body, constituted or established under a Central, State or Provincial Act u/s 2(19AA) - 1159(E) - Income Tax Act, 1961
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Demerger for power utilities when statutory split or reconstruction occurs, subject to official notification and going concern asset transfer. Specification deems a statutory split or reconstruction of an authority or body engaged in generation, transmission or distribution of electrical power to be a demerger where (i) the split or reconstruction is effected by notification in the Official Gazette by the Central or State Government and (ii) the assets are transferred to one or more resulting companies on a going concern basis.
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.
Demerger for power utilities when statutory split or reconstruction occurs, subject to official notification and going concern asset transfer.
Specification deems a statutory split or reconstruction of an authority or body engaged in generation, transmission or distribution of electrical power to be a demerger where (i) the split or reconstruction is effected by notification in the Official Gazette by the Central or State Government and (ii) the assets are transferred to one or more resulting companies on a going concern basis.
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