https://www.taxtmi.com/highlights?id=62862 Depreciation on assets on demerger - actual cost as per section 43(1) of the Income Tax Act, 1961 was nil - The demerger led to division of assets in a fixed ratio and the same was duly accounted for both the entities as per the written down value (WDV) as on that date. The depreciation on de-merger cannot be a forgone benefit owing to de-merger, which is the result of state reorganization. - AT en-us Mon, 11 Apr 2022 08:40:23 +0530 Mon, 11 Apr 2022 08:40:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=62862 Depreciation on assets on demerger - actual cost as per section 43(1) of the Income Tax Act, 1961 was nil - The demerger led to division of assets in a fixed ratio and the same was duly accounted for both the entities as per the written down value (WDV) as on that date. The depreciation on de-merger cannot be a forgone benefit owing to de-merger, which is the result of state reorganization. - AT Highlights Income Tax Mon, 11 Apr 2022 08:40:23 +0530 https://www.taxtmi.com/highlights?id=62862