https://www.taxtmi.com/caselaws?id=447983 ITAT Mumbai held that under section 35DD, amalgamation expenses must be claimed in 5 equal annual installments of 1/5th each, rejecting the assessee's claim for 2/5th deduction in one year. However, the tribunal accepted that AY 2007-08 should be treated as the first year for claiming merger expenses since amalgamation became operational only after HC approval during that year, not from the effective date of 01.04.2005. Regarding MAT credit under section 115JAA, the matter was remitted to the assessing officer for verification of documentary evidence submitted under the VSVS scheme. en-us Tue, 02 Jan 2024 00:00:00 +0530 Tue, 09 Jan 2024 09:38:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447983 ITAT Mumbai held that under section 35DD, amalgamation expenses must be claimed in 5 equal annual installments of 1/5th each, rejecting the assessee's claim for 2/5th deduction in one year. However, the tribunal accepted that AY 2007-08 should be treated as the first year for claiming merger expenses since amalgamation became operational only after HC approval during that year, not from the effective date of 01.04.2005. Regarding MAT credit under section 115JAA, the matter was remitted to the assessing officer for verification of documentary evidence submitted under the VSVS scheme. Case-Laws Income Tax Tue, 02 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447983