Amalgamation disputes under Section 269SS: ITAT deletes Penalty u/s 271D

DCIT Vs Trans Asia Packaging Ltd (ITAT Delhi)

Introduction: The Income Tax Appellate Tribunal (ITAT), Delhi, in the case of DCIT Vs Trans Asia Packaging Ltd, addressed a crucial issue relating to transactions between amalgamated companies. The ITAT held that transactions between two units of a single entity post amalgamation cannot be considered as infringing Section 269SS of the Income Tax Act, thereby deleting the penalty imposed under Section 271D.

Analysis: The case in question revolve

Please become a Premium member. If you are already a Premium member, login here to access the full content.