1(1) Where an assessee, being an Indian company, incurs any expenditure, on
or after the 1st day of April, 1999, wholly and exclusively for the purposes of
amalgamation or demerger of an undertaking, the assessee shall be allowed a
deduction of an amount equal to one-fifth of such expenditure for each of the
five successive previous years beginning with the previous year in which the
amalgamation or demerger takes place.
(2) No deduction shall be allowed in respect of the expenditure mentioned in
sub-section (1) under any other provision of this Act.
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1. Ins. by Act 27 of 1999, s. 20 (w.e.f. 1-4-2000)
Section 35D Amortisation of certain preliminary expenses
Section 35DD Amortisation of expenditure in case of amalgamation or demerger
Section 35DDA Amortisation of expenditure incurred under voluntary retirement scheme
Section 35E Deduction for expenditure on prospecting, etc., for certain minerals
Section 38 Building, etc., partly used for business, etc., or not exclusively so used