https://www.taxtmi.com/highlights?id=28072 The scheme of demerger of which sanction is sought appears to be only a device for avoidance of obligation towards capital gains tax and stamp duty and also falls foul of Explanation to Section 2(19AA) of the Income Tax Act of 1961. The scheme of de-merger cannot therefore be sanctioned - HC en-us Tue, 22 Mar 2016 08:41:01 +0530 Tue, 22 Mar 2016 08:41:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=28072 The scheme of demerger of which sanction is sought appears to be only a device for avoidance of obligation towards capital gains tax and stamp duty and also falls foul of Explanation to Section 2(19AA) of the Income Tax Act of 1961. The scheme of de-merger cannot therefore be sanctioned - HC Highlights Companies Law Tue, 22 Mar 2016 08:41:01 +0530 https://www.taxtmi.com/highlights?id=28072