Supreme Court of India
Commissioner of Income Tax v. Mahendra Mills
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
From the headnote
Section 72A of the Income Tax Act, 1961 enables an Amalgamated Company to carry forward and set off accumulated loss and unabsorbed depreciation allowance in certain cases of amalgamation on the fulfilment of three conditions viz; (a) that the amalgamating company was, immediately before its amalgamation financially non-viable by reason of its liabilities, losses and other relevant factors; (b) that the amalgamation was in the public interest; and (c) such other conditions as central government may by notification in the official Gazette specify, to ensure. that the benefit under the section…
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