Assessing Officer Fails to Clarify Asset Transfer as Demerger u/s 2(19AA) of the Income Tax Act.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Disallowance on depreciation claimed on assets of transmission business - AO failed to explicate as to how the transfer would fall within the meaning of demerger as given under section 2(19AA) and as how all the condition specified under section 2(19AA) of the Act were satisfied. - AT....