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2023 (5) TMI 558 - SCH - Income TaxDisallowance of business loss and unabsorbed depreciation of amalgamated company (Dolphin Laboratories) - Scheme of amalgamation conceived - “cut off date” OR “appointed date” OR “date of amalgamation” - HELD THAT:- High Court has heavily relied upon the earlier decision of the High Court in the case of IRM Limited [2016 (7) TMI 972 - GUJARAT HIGH COURT] which was rendered after following the decision of this Court in Marshall Sons & Co. (India) Ltd. [1996 (11) TMI 6 - SUPREME COURT] as held once the scheme is sanctioned, the same would relate back to the appointed date of amalgamation. Revenue is not in a position to point out any contrary decision of this Court taking a contrary view than the view taken in the case of Marshall Sons & Co. (India) Ltd. (supra). No interference of this Court in High court decision - SLP dismissed.
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