MAT credit, advance tax and withholding tax of demerged undertaking allowed to resulting company on demerger on pro rata basis
In a recent judgement, the Ahmedabad Income-tax Appellate Tribunal held that in a demerger, the resulting company was entitled to utilise minimum alternate tax (MAT) credit, advance tax and withholding tax pertaining to the demerged undertaking on pro rata basis with effect from the appointed date.
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