Merger effective date under company law was treated prima facie as the resolution date, with appeal revival conditioned on duty deposit.

A company merger under the Companies Act, 1956 was treated prima facie as effective from 30-3-93 because the sanctioned resolution expressly fixed that date, rather than the later date of the High Court's sanction order. On that basis, the Tribunal allowed restoration of the appeal only on deposit of the duty demanded and remanded the matter to the Commissioner (Appeals) for decision on merits. The document therefore records a conditional revival of appellate proceedings linked to the asserted merger date, while leaving the substantive dispute open for fresh adjudication.

---

---

Issues: Whether the merger of the assessee with the other company took effect on 30-3-93 or only on 26-11-93, and whether the appeal could be revived subject to deposit of the duty demanded.

Analysis: The order sanctioning the proposed merger was passed under the Companies Act, 1956, and the resolution of the two companies expressly proposed that the merger would take effect from 30-3-93. The approved resolution was treated as indicating, prima facie, that the merger date was 30-3-93 rather than the date on which the High Court passed the sanction order. On that basis, the Tribunal directed deposit of the duty amount as a condition for restoration of the appeal and remand to the Commissioner (Appeals) for decision on merits.

Conclusion: The merger date was accepted prima facie as 30-3-93, and the appeal was permitted to proceed only upon deposit of the duty, with the matter remanded for fresh decision on merits.

Final Conclusion: The assessee obtained a conditional revival of the appeal and a remand for merits, but the matter was not finally concluded by this order.

---