consideration, the assessee decided to restructure and reorganise the company by spinning off its "Panasonic Division" to Matsushita Television & Audio India ... scheme of arrangement which provided that assessee company was to spin off the entire property, rights and powers including the technical assistance and know
Ece Industries Ltd. vs Deputy Commissioner Of Income Tax on 29 September, 2006
Equivalent citations
includes such corporate actions as
mergers, acquisitions/ amalgamations/ absorption, divestitures,
demergers (spin-offs and debt-equity changes.
The different methods of restructuring and their implications ... difference in
valuation, if any in cash.
iii) Demergers or Spin-offs
Demerger involves spinning off (profitable or robust) parts of a
diversified company into
whereby some divisions of the existing company are being spun off into the new company. There is really no reduction in capital as the bifurcation ... divisions which are being spun off. The divisions which are to spin off into the new company would discharge these liabilities to the creditors
transitional
support services. It was submitted that as part of a spin off
exercise in the group, a number of functions that supported the
travel ... ensure that continuity of business was maintained even after the
spin-off, till the time when both organizations reconstructed such
expertise in-house
transitional
support services. It was submitted that as part of a spin off
exercise in the group, a number of functions that supported the
travel ... ensure that continuity of business was maintained even after the
spin-off, till the time when both organizations reconstructed such
expertise in-house
Daniels Midland Singapore Pte Ltd., movable assets, liabilities
and investment of spin off division Of Tinna Oil & Chemicals
Limited, as per its audited Balance
continuity of its business maintained even after the spin-off; March 2014.
It was brought to our notice by the Ld. Counsel that the benchmarking ... ensure
that continuity of business is maintained even after the spin-off [pg. no. 345-
346 of Paperbook]. Further, the nature of transition support
further submitted that
mergers, acquisitions, demergers, spin-off, business reorganizations etc. are
extra ordinary events and effect the normal profitability of the company, thus
need
bank reflected date of deposit as on 01.05.2012 which
spinned off the charging of interest by the CPC . The assessee
has produced certificate from
