Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
Misclassification between copra and dry coconut: customs recovery and re-valuation quashed for lack of prior licensing-authority invalidation, appeals...
ITAT held that post-01.04.2007 amalgamation triggers the statutory bar in section 80IA(12A), which excludes continuation of the deduction where an eligible undertaking is transferred under amalgamation or demerger; the amalgamated company was therefore ineligible for section 80IA relief. It also held that section 80JJAA(2)(b) denies deduction where the business is acquired by transfer or as a result of business reorganisation, and an amalgamation falls within that bar because the undertaking, assets and liabilities stand transferred to the resultant company. Both deductions were thus disallowed and the Revenue's appeal succeeded.
ITAT held that post-01.04.2007 amalgamation triggers the statutory bar in section 80IA(12A), which excludes continuation of the deduction where an eligible undertaking is transferred under amalgamation or demerger; the amalgamated company was therefore ineligible for section 80IA relief. It also held that section 80JJAA(2)(b) denies deduction where the business is acquired by transfer or as a result of business reorganisation, and an amalgamation falls within that bar because the undertaking, assets and liabilities stand transferred to the resultant company. Both deductions were thus disallowed and the Revenue's appeal succeeded.
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