'In case of Demerger, the resulting company shall be eligible for tax concessions only if two conditions are satisfied'. What are the two conditions? What are provisions relating to tax concession in case of demerger in

The resulting company shall be eligible for tax concessions only if the following two conditions are satisfied: The demerger satisfies all the conditions laid down in section 2 (19AA) ; and The resulting company is an Indian company. The following concessions are available to the resulting company pursuant to a scheme of demerger: (i) Expenditure for obtaining licence to operate telecommunication services [Section 35ABB] The provisions of the section 35ABB of the Income Tax Act, 1961 relating to deduction of expenditure, incurred for obtaining licence to operate communication services shall, as far as may be, apply to the resulting company as they would have applied to the demerged company, if the latter had not transferred the licence and the amalgamated company or the resulting company is an Indian company. (ii) Expenditure for obtaining Spectrum to operate telecommunication services [Section 35ABA] The provisions of the section 35ABA of the Income Tax Act, 1961 relating to deduction of expenditure, incurred for obtaining spectrum to operate communication services shall, as far as may be, apply to the resulting company as they would have applied to the demerged company if the latter had not transferred the spectrum and the amalgamated company or the resulting company is an Indian company.