CA Mukesh Jain S (Chartered Accountant in Practice) (692 Points)
04 December 2010A 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
Priyank
(Learner)
(98 Points)
Replied 04 December 2010
Dear Mukesh sir,
In absence of any specific provision we can say that, transferee co. shall not be eligible to claim deduction u/s 80IB, in case of slump sale.
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