https://www.taxtmi.com/caselaws?id=5872 Section 72A relief is subject to judicial review where the authority misdirects itself in law, relies on irrelevant considerations, or reaches an unreasonable conclusion. Financial non-viability for clause (a) is assessed as commercial sickness from temporary adverse conditions, judged by liabilities, losses, liquidity, solvency, and profitability; on the facts, the undertaking was commercially insolvent before amalgamation, so the viability finding was unsustainable. Public interest under clause (b) was also satisfied because the amalgamation preserved production of an essential commodity, protected employment, avoided closure of a sick unit, conserved productive capacity, and reduced the burden on the public exchequer. en-us Fri, 02 Sep 1983 00:00:00 +0530 Thu, 30 Oct 2025 22:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5872 Section 72A relief is subject to judicial review where the authority misdirects itself in law, relies on irrelevant considerations, or reaches an unreasonable conclusion. Financial non-viability for clause (a) is assessed as commercial sickness from temporary adverse conditions, judged by liabilities, losses, liquidity, solvency, and profitability; on the facts, the undertaking was commercially insolvent before amalgamation, so the viability finding was unsustainable. Public interest under clause (b) was also satisfied because the amalgamation preserved production of an essential commodity, protected employment, avoided closure of a sick unit, conserved productive capacity, and reduced the burden on the public exchequer. Case-Laws Income Tax Fri, 02 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5872