This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Holding Company’s Share Issue Cannot Secure Section 72A(4) Demerger Benefit: ITAT Mumbai
Case Law Details
- Case Name
- Sterling Holiday Resorts Limited Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Mumbai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Sterling Holiday Resorts Limited Vs DCIT (ITAT Mumbai)
Holding company couldn’t issue shares on behalf of subsidiary to claim demerger tax benefit: ITAT Mumbai
Conclusion: Disallowance of assessee’s claim was upheld for set-off of brought forward unabsorbed depreciation and carry forward of business losses and unabsorbed depreciation of the demerged company under section 72A(4), holding that failure to satisfy the mandatory condition of issuing shares to the demerged company disentitled the assessee from claiming the statutory benefit. A holding company cannot issu...
Author Info
