35DD. Amortisation of expenditure in case of amalgamation
or demerger.- (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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