Slump Sale
This query is : Resolved
04 December 2010
A co., is going for slump sale of the entire Undertaking. It used to claim deduction u/s 80IB.
Now whether the transferee co., can claim the deduction u/s 80IB ?
Sec 80IB specifies only amalgamation or demerger's as the eligible for deduction
Now whether the transferee co., can claim the deduction u/s 80IB ?
Sec 80IB specifies only amalgamation or demerger's as the eligible for deduction
04 December 2010
.
04 December 2010
.
05 December 2010
Section 80-IB
Sub-section (2)
This section applies to any industrial undertaking which fulfills all the following conditions , namely :-
(ii) it is not formed by the transfer to a new business of machinery or plant previously used for ANY purpose.
ANY purpose covers all including use in 80IB.
So transferee co., can not claim deduction u/s 80IB.
Sub-section (2)
This section applies to any industrial undertaking which fulfills all the following conditions , namely :-
(ii) it is not formed by the transfer to a new business of machinery or plant previously used for ANY purpose.
ANY purpose covers all including use in 80IB.
So transferee co., can not claim deduction u/s 80IB.
Message likes :
1 times
06 December 2010
Thanks you sir.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- Bank Accounts in Balance Sheet for ITR 3
- ITR validation error - Balance sheet is not filled
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Eway bill for machinery reparing
- TDS ON CASH WITHDRAWALS...
- Form 10BD Filling
- Registration as Authorised Representative of minor
- Change the gender in the registration of icai
- Lift replacement entries in housing society
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
