Amalgamation Expenses Treated Business Expenses Income Tax Act ITAT


The AO and the CIT(A) rejected the claim on the basis of previous rulings, and the ITAT dismissed the appeal for lack of new facts or arguments.

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) held that the amalgamation expenses under Section 37(1) of the Income Tax Act, 1961 cannot be treated as business expenses and the assessee’s amalgamation of the company. Disallowance of interest on bonds issued during . Ambalal Sarabhai Enterprises Limited, the appellant, was involved in the manufacture of drugs…

Tax Scan Premium

Why should you subscribe?

  • Enjoy our website uninterrupted by ads.
  • Receive daily newsletters.
  • Get real-time Telegram/Whatsapp news updates.
  • Download the original decision/order/notification/circular etc.
  • Enjoy special entry fees to easy series. (Webinars, seminars, masterclasses, etc.)

₹2299 + GST ​​for 1 year

Subscribe now.





Source link