Section 56(2)(x) Addition Deleted as Demerger Was Tax-Neutral

ACIT Vs Emami Realty Ltd. (ITAT Kolkata)

Demerger Fully Tax-Neutral: Section 56(2)(x) Inapplicable, Section 2(19AA) Conditions Satisfied — ITAT Kolkata in Emami Realty Ltd.

The Kolkata Bench of the ITAT dismissed the Revenue’s appeal and upheld the CIT(A)’s order deleting a massive addition of ₹374.53 crore made under section 56(2)(x) in the hands of Emami Realty Ltd.<

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