Facts of the caseThe board of directors of OneSource Specialty Pharma Limited (“OneSource”) unlisted public company which was supposed to get listed pursuant to the proposed transaction, approved a scheme of arrangement...
Transfer of Assets and no Liabilities to be treated as Non-Compliant Demerger – ITAT, Ahmedabad
Recently, the Ahmedabad Bench of the Income Tax Appellate Tribunal (“ITAT”) upheld the order of the learned Commissioner of Income Tax (appeals) treating the transfer of “Treasury Business” as non-compliant demerger u/s...
