Merger Violates Income Tax Act, Triggers Capital Gain Assessment u/s 47(xiii) and 47A(3) for Successor Company.

Merger Violates Income Tax Act, Triggers Capital Gain Assessment u/s 47(xiii) and 47A(3) for Successor Company. https://www.taxtmi.com/highlights?id=20871 Conversion of a firm in Part-IX Company - resultant company is further merged with another company - violation of proviso to sec. 47 (xiii) r.w.s 47A(3) - The capital gain shall be assessed in the hands of successor company in the previous year in which violation had taken place - AT en-us Wed, 03 Dec 2014 15:07:54 +0530 Wed, 03 Dec 2014 15:07:54 +0530 TaxTMI RSS Generator Merger Violates Income Tax Act, Triggers Capital Gain Assessment u/s 47(xiii) and 47A(3) for Successor Company. https://www.taxtmi.com/highlights?id=20871 Conversion of a firm in Part-IX Company - resultant company is further merged with another company - violation of proviso to sec. 47 (xiii) r.w.s 47A(3) - The capital gain shall be assessed in the hands of successor company in the previous year in which violation had taken place - AT Highlights Income Tax Wed, 03 Dec 2014 15:07:54 +0530 https://www.taxtmi.com/highlights?id=20871