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Merger Violates Income Tax Act, Triggers Capital Gain Assessment u/s 47(xiii) and 47A(3) for Successor Company.

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....Conversion of a firm in Part-IX Company - resultant company is further merged with another company - violation of proviso to sec. 47 (xiii) r.w.s 47A(3) - The capital gain shall be assessed in the hands of successor company in the previous year in which violation had taken place - AT....

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