Provision of S.56(2)(viia) of IT Act shall apply to Underlying Investments Received by  Amalgamated Entity on Account of Merger: ITAT

IT Act - Investments Received - Amalgamated Entity on Account of Merger - ITAT - Taxscan

The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has recently held that the provision of Section 56(2)(viia) of the Income Tax Act, 1961 shall apply to underlying investments received by amalgamated entities on account of merger. Assessee is a public company engaged in the investment business. Assessee filed its return for the assessment year…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1199 + GST for 1 year

Subscribe Now

taxscan-loader