Capital gains tax payable if demerger fails to fulfill Section 2(19AA) conditions

Reckitt Benckiser Healthcare India Private Limited Vs DCIT (ITAT Ahmedabad) Income Tax Appellate Tribunal (ITAT) Ahmedabad ruled on cross-appeals filed by Reckitt Benckiser Healthcare India Pvt. Ltd. and the Income Tax Department concerning the company’s tax assessment for AY 2011-12. The dispute primarily revolved around additions made by the Assessing Officer (AO) regarding demerger compliance under Section 2(19AA) of the Income Tax Act and the treatment of capital gains. The AO had determined a revised total income of ₹84.94 crore, significantly higher than the declared ₹27.56 crore, ...