TMI Blog2009 (3) TMI 65X X X X Extracts X X X X X X X X Extracts X X X X ..... ation - Tribunal was justified in deleting additions by holding that an amount allowed as deduction u/s 43B to the amalgamating sister concern would not be liable to be included in hands of successor amalgamating company - 181 of 1999 - - - Dated:- 18-3-2009 - D. A. MEHTA and S. R. BRAHMBHATT, JJ. Mr. B.B. Naik for the Appellant. Mr. J.P. Shah for the Respondent. JUDGMENT JUSTIC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... areli Textile Industries Ltd., amalgamated with the assessee company w.e.f. 1-4-1988. The Assessing Officer made addition protectively in the hands of the assessee company on the basis that the claim of deduction of aforesaid amount in the hands of Vareli Textile Industries Ltd., had been disallowed by the Assessing Officer. Heard learned counsel appearing for appellant Revenue. It was submitted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sion. It was submitted that in fact the assessee company was only claiming deduction of the purchase price paid for the stock acquired on amalgamation. The Tribunal after recording facts in paragraph No. 8.4 of impugned order, has referred to the head-note of the Apex Court decision in case of Saraswati Industrial Syndicate Ltd. (supra) and, thereafter, applied the ratio to the facts of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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