Deductions


This query is : Resolved 

(Querist)
09 March 2010 A Company doing developing of SEZ business claimed deduction U/s 80 IA for 5 years. Now the company is amalgamated into another company doing the same business. Being amalgamated it's not eligible to get deduction U/s 80IA. But U/s 80 IAB it is specified that the amalgamated company can avail deduction for the remaining period.

Do the Co, can claim deduction for the remaining 5 Yrs?

11 March 2010
Transfer of undertaking in the case of
amalgamation/demerger-transferee eligible for deduction for unexpired period.

Transfer of P&M previously used to the new SEZ not to affect the deduction.

Regards
K.L.Paliwal



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