TDS deducted in hands of Transferor Company shall belong to Transferrer Company when Amalgamation Scheme is approved by HC: ITAT [Read Order]

TDS deducted - Transferor Company shall belong to Transferrer Company - Amalgamation Scheme is approved by HC - ITAT - TAXSCAN

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the Tax Deducted at Source (TDS) deducted in the hands of the transferor company shall belong to the transferrer company when the amalgamation scheme is approved by the High Court. The scheme of amalgamation between M/s. Bansidhar Commotrade Pvt. Ltd., M/s. Basudev Commosales Pvt….

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