Section 20 in Finance Act, 1999
20. Insertion of new section 35DD.
- After section 35D of the Income-tax Act, the following section shall ... inserted with effect from the 1st day of April, 2000, namely:- "35DD. Amortisation of expenditure in case of amalgamation or demerger. - (1) Where an assessee
35DD in The Income Tax Act, 1961
35DD. Amortisation of expenditure in case of amalgamation or demerger.
[Inserted by Act 27 of 1999 , Section
operative bank [or to the converted banking company] under section 32, section 35-DD or section 35-DDA shall be determined in accordance with ... business reorganization has taken place
(4) The provisions of section 35D, section 35DD or section 35DDA shall, in a case where an undertaking
disallowance of Rs.3,35 lakhs claimed under
section 35D and allowed under section 35DD of the Act
and further the disallowance ... lakhs
claimed u/s 35D by allowing assessee's alternate claim u/s
35DD .
17. The assessee had claimed Rs 335,605/- under section
revenue: - .................................................................. 10
Analysis and reasons: - ............................................................................................................ 10
Deduction claimed under Section 35DD: - .......................................................................... 11
Disallowance under Section 14A of the Act: - ..................................................................... 16
Commuted/discounted one-time lease ... upholding the disallowance of Rs.44,00,739/- claimed under section 35DD of
the Act, being l/5th of expenses incurred in [the] assessment year
upholding disallowance of Rs. 44,00,739/-, claimed
under section 35DD of the Income Tax Act, 1961 ("the Act") in
respect ... facts and
in law in holding that in terms of section 35DD of the Act,
demerger expenses are allowable only in the hands
which the amalgamation or
demerger takes place. As per sub section (2) of section 35DD , no deduction
shall be allowed in respect of the expenditure ... section 35DD , but not under the provisions of
section 43B of the Act. No doubt, section 35DD provides for deduction
towards expenditure incurred wholly
Section 28 , Section 29 , Section 30 , Section 31 , Section 32 , Section 32A , Section 32AB , Section 32AC , Section 32AD , Section 33 , Section 33A , Section 33AB , Section ... Section 35A , Section 35AB , Section 35ABA, Section 35ABB , Section 35AC , Section 35AD , Section 35CCA , Section 35CCB , Section 35CCC , Section 35CCD , Section 35D , Section 35DD , Section
entity under this section for the tax year in which such reorganisation takes place. (7) For the purposes of this section,–– (a) "actually paid" means ... partnership fulfilling conditions laid down in section 70(1)(ze). [ Similar to Section 35ABA, Section 35ABB , Section 35DD and Section 35DDA from The Income
lakhs claimed u/s 35D by
allowing assessee's alternate claim u/s 35DD.
7 M/s. Aptech Ltd.
17. The assessee had claimed ... list of expenses specified u/s
35D(2) , then the same will definitely qualify for deduction u/s 35DD
as expenses incurred wholly and exclusively
