https://www.taxtmi.com/caselaws?id=103060 An amalgamation order sanctioned under section 394 of the Companies Act, 1956 is treated as an instrument and conveyance for stamp duty purposes because it effects transfer of the transferor company's undertaking, property and liabilities to the transferee company. The State Legislature was competent to levy stamp duty on such an instrument, and the levy was not repugnant to the Companies Act, 1956 since duty is imposed on the document, with property value used only as the measure. For valuation, duty is to be computed on the consideration reflected in the scheme, ordinarily the shares allotted or other consideration, not by separately valuing assets and liabilities. en-us Tue, 20 Feb 1996 00:00:00 +0530 Mon, 20 Feb 2012 15:35:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103060 An amalgamation order sanctioned under section 394 of the Companies Act, 1956 is treated as an instrument and conveyance for stamp duty purposes because it effects transfer of the transferor company's undertaking, property and liabilities to the transferee company. The State Legislature was competent to levy stamp duty on such an instrument, and the levy was not repugnant to the Companies Act, 1956 since duty is imposed on the document, with property value used only as the measure. For valuation, duty is to be computed on the consideration reflected in the scheme, ordinarily the shares allotted or other consideration, not by separately valuing assets and liabilities. Case-Laws Companies Law Tue, 20 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103060