https://www.taxtmi.com/caselaws?id=371421 The Tribunal dismissed the revenue's appeal and partly allowed the assessee's cross-objections. It held that the book value of assets constituted the full value of consideration, Section 47A(4) did not apply for determining exemption eligibility, and the deduction under Section 80-IA was permissible despite the delayed audit report filing. However, the carry forward of losses from the former private limited company to the LLP was denied due to non-compliance with Section 47(xiiib) conditions. en-us Fri, 16 Nov 2018 00:00:00 +0530 Tue, 04 Dec 2018 08:59:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371421 The Tribunal dismissed the revenue's appeal and partly allowed the assessee's cross-objections. It held that the book value of assets constituted the full value of consideration, Section 47A(4) did not apply for determining exemption eligibility, and the deduction under Section 80-IA was permissible despite the delayed audit report filing. However, the carry forward of losses from the former private limited company to the LLP was denied due to non-compliance with Section 47(xiiib) conditions. Case-Laws Income Tax Fri, 16 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371421