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Amalgamation Under Income tax

This query is : Resolved 
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(Querist)
05 November 2008
Clause C of Para 99.1 say : That the amalgamating company has held continously as on date of amalgamation at least 3/4 of the book value of fixed assets held by it two years prior to date of amalgamation .

What is book value ? Gross block or Net block after Depreciation .
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
05 November 2008 All values as per book.
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