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Tax Publishers Claim under section 35DD of amalgamation expenses - first year how reckoned *Facts:* Assessee claimed amalgamation expenses arising out of a court approved merger on 01-12-2006 as appointed date but wef 01-04-2005. Accordingly they claimed 2/5th of the amalgamation expense under section 35DD for Fy 2005-06 and Fy 2006-07 of which 1/5th was rejected by lower authorities. On appeal to ITAT alternate plea by assessee was if Fy 2006-07 was held the first year of claim under section 35DD then 1/5th expense ought to be allowed for Fy 2010-11. Held in favour of the assessee that first year of claim under section 35DD will be Fy 2006-07 thus they be allowed 1/5th expense for Fy 2010-11 as well. *Case:* United Spirits Ltd. v. Jt. CIT 2024 TaxPub(DT) 35 (Mum-Trib)

Tax Publishers

Claim under section 35DD of amalgamation expenses - first year how reckoned

Facts:

Assessee claimed amalgamation expenses arising out of a court approved merger on 01-12-2006 as appointed date but wef 01-04-2005. Accordingly they claimed 2/5th of the amalgamation expense under section 35DD for Fy 2005-06 and Fy 2006-07 of which 1/5th was rejected by lower authorities. On appeal to ITAT alternate plea by assessee was if Fy 2006-07 was held the first year of claim under section 35DD then 1/5th expense ought to be allowed for Fy 2010-11.

Held in favour of the assessee that first year of claim under section 35DD will be Fy 2006-07 thus they be allowed 1/5th expense for Fy 2010-11 as well.

Case: United Spirits Ltd. v. Jt. CIT 2024 TaxPub(DT) 35 (Mum-Trib)