https://www.taxtmi.com/caselaws?id=268335 The court sanctioned the proposed scheme of amalgamation under Sections 391 and 394 of the Companies Act, 1956, finding it fair, just, and compliant with legal provisions and public policy. Despite objections from the Income Tax Department and the Regional Director regarding potential tax evasion, the court ruled in favor of the petitioners, emphasizing that tax planning is permissible. The scheme aimed to streamline business operations, consolidate activities, and enhance efficiency without violating public interest. The court approved the scheme, directing the petitioners to complete necessary formalities within 30 days, ensuring stakeholder and public interests were safeguarded. en-us Tue, 29 Sep 2015 00:00:00 +0530 Tue, 14 Nov 2017 15:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268335 The court sanctioned the proposed scheme of amalgamation under Sections 391 and 394 of the Companies Act, 1956, finding it fair, just, and compliant with legal provisions and public policy. Despite objections from the Income Tax Department and the Regional Director regarding potential tax evasion, the court ruled in favor of the petitioners, emphasizing that tax planning is permissible. The scheme aimed to streamline business operations, consolidate activities, and enhance efficiency without violating public interest. The court approved the scheme, directing the petitioners to complete necessary formalities within 30 days, ensuring stakeholder and public interests were safeguarded. Case-Laws Companies Law Tue, 29 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268335