https://www.taxtmi.com/caselaws?id=20692 The High Court ruled in favor of including shares allotted in a scheme of amalgamation in the capital base of a company from the appointed date of the scheme, which was July 1, 1978. The court corrected factual errors in the Department's question, emphasizing that the shares should be included as of the correct allotment date, May 3, 1979. The judgment discharged the rule, stating that the shares must be considered part of the capital base from the appointed date, resolving the issue raised under section 256(2) of the Income-tax Act, 1961. en-us Wed, 08 Jul 1992 00:00:00 +0530 Mon, 16 Nov 2009 15:56:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20692 The High Court ruled in favor of including shares allotted in a scheme of amalgamation in the capital base of a company from the appointed date of the scheme, which was July 1, 1978. The court corrected factual errors in the Department's question, emphasizing that the shares should be included as of the correct allotment date, May 3, 1979. The judgment discharged the rule, stating that the shares must be considered part of the capital base from the appointed date, resolving the issue raised under section 256(2) of the Income-tax Act, 1961. Case-Laws Income Tax Wed, 08 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20692