https://www.taxtmi.com/caselaws?id=254594 The High Court held that there was a transfer within the meaning of Section 32A(5) of the Income Tax Act. However, the scheme of arrangement could be protected under sub-section (6) to Section 32A if specific conditions were met. The Court emphasized a broad interpretation of "amalgamation" to include schemes where the amalgamating company does not necessarily cease to exist. The case was remanded to the Tribunal for further examination of whether the legislative conditions were satisfied. en-us Tue, 23 Dec 2014 00:00:00 +0530 Fri, 26 Dec 2014 08:25:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254594 The High Court held that there was a transfer within the meaning of Section 32A(5) of the Income Tax Act. However, the scheme of arrangement could be protected under sub-section (6) to Section 32A if specific conditions were met. The Court emphasized a broad interpretation of "amalgamation" to include schemes where the amalgamating company does not necessarily cease to exist. The case was remanded to the Tribunal for further examination of whether the legislative conditions were satisfied. Case-Laws Income Tax Tue, 23 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254594