Supreme Court of India
Principal Commissioner of Income Tax (central) – 2 v. M/s. Mahagun Realtors (p) Ltd.
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.
1 Supreme Court bench has cited this judgment.
What the Court ordered
In view of the foregoing discussion and having regard to the facts of this case, this court is of the considered view, that the impugned order of the High Court cannot be sustained; it is set as ide.
Judgment, page 33
From the headnote
Income Tax Act, 1961 – ss. 2(1A), 2(31) and 170(2) – Amalgamation of companies – Effect of amalgamation in the context of income tax – Held: The combined effect of s.394( 2) of the Companies Act, 1956, s.2(1A) and various other provision s of the Income Tax Act, is that despite amalgamation, the business, enterprise and undertaking of the transferee or amalgamated company- which ceases to exist, after amalgamation, is treated as a continuin g one, and any benefits, by way of carry forward of losses (of the transferor company), depreciation, etc., are allowed to the tr ansferee – Therefore,
Authorities it was built on
- 2004 Singer India Ltd. v. Chander Mohan Chadha and Ors.
- 1990 Saraswati Industrial Syndicate Ltd. v. C.I.T., Haryana, Himachal Pradesh, Delhi
- 1962 The Commissioner of Income-tax, Bombay City I, Bombay v. Amarchand N. Shroff, by His Heirs and Legal Representatives
- 1996 Marshall Sons and Co. (india) Ltd. v. Income Tax Officer
- 1971 Commissioner of Lncome Tax, Madhya Pradesh, Nagpur v. Hukamchand Mohanlal
- 2017 M/s. Mcdowell & Company Ltd. v. Commissioner of Income-tax, Karnataka Central, Bangalore
- 1987 Bhagwan Dass Chopra v. United Bank of India & Ors.
Where later benches applied it
Of those, 1 relied on
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