https://www.taxtmi.com/caselaws?id=219956 The High Court ruled that amalgamation does not constitute a transfer as defined in the Income Tax Act. As the income belonged solely to the assessee company post-amalgamation, the court held that the assessee was entitled to claim the benefit of Section 80-I, provided all other conditions were met. The court dismissed the revenue's appeal, affirming that the assessee was not disqualified from availing the deduction under Section 80-I. The judgment clarified the application of Section 80-I in the context of amalgamation and transfer of industrial undertakings. en-us Mon, 03 Dec 2012 00:00:00 +0530 Wed, 02 Jan 2013 15:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219956 The High Court ruled that amalgamation does not constitute a transfer as defined in the Income Tax Act. As the income belonged solely to the assessee company post-amalgamation, the court held that the assessee was entitled to claim the benefit of Section 80-I, provided all other conditions were met. The court dismissed the revenue's appeal, affirming that the assessee was not disqualified from availing the deduction under Section 80-I. The judgment clarified the application of Section 80-I in the context of amalgamation and transfer of industrial undertakings. Case-Laws Income Tax Mon, 03 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219956