The Hindu Business Line : Saturday, April 26, 2008

DETAXFICATION
Is `demerger' route completely tax neutral?
Demerger does not find a specific reference in Section 49 with the result it is a mystery whether the original cost of acquisition for capital assets in the hands of the demerged company can be deemed to be the cost of acquisition for the resulting c ompany. More

REASSESSMENT
Missing the penal tree for woods
Section 271(1) of the Income-tax Act, 1961, inter alia, says that “ if the assessing officer or the Commissioner (Appeals) or the Commissioner in the course of any proceedings under this Act is satisfied that any ... More

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