https://www.taxtmi.com/acts?id=45958 Amendment requires that where an amalgamating company transfers a ship, machinery or plant for which a development rebate was allowed, the amalgamated company must continue to fulfil the reserve and non disposal period obligations and will face the same default consequences as the transferor; any outstanding balance of the development rebate is allowable to the amalgamated company under the usual carryforward mechanism subject to an overall limit on the combined carryforward period, and the amalgamated company is treated as the assessee for these purposes. en-us Mon, 09 Dec 2024 21:26:13 +0530 Mon, 09 Dec 2024 21:26:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=45958 Amendment requires that where an amalgamating company transfers a ship, machinery or plant for which a development rebate was allowed, the amalgamated company must continue to fulfil the reserve and non disposal period obligations and will face the same default consequences as the transferor; any outstanding balance of the development rebate is allowable to the amalgamated company under the usual carryforward mechanism subject to an overall limit on the combined carryforward period, and the amalgamated company is treated as the assessee for these purposes. Act-Rules F. Acts / Amendment Acts Mon, 09 Dec 2024 21:26:13 +0530 https://www.taxtmi.com/acts?id=45958