Amalgamation tax benefits and FORM-D refusal raise legal questions on transfer of exemptions after merger.

Refusal to issue FORM-D after approval of an amalgamation scheme raised questions on whether the refusal conflicted with a State Government exemption and whether the transferor company's tax benefits could pass to the transferee on merger. The revision was admitted on the stated questions of law and was listed for disposal later. The text does not record any final determination on the merits.

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Issues: Whether the refusal to issue FORM-D after approval of the scheme of amalgamation was justified, whether the refusal infringed the exemption granted by the State Government, and whether tax benefits available to the transferor company enure to the transferee company upon merger and amalgamation.

Outcome: The revision was admitted on the stated questions of law and listed for disposal on a later date.

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