https://www.taxtmi.com/caselaws?id=287566 Acquisition of sugar undertakings was treated as a distinct legislative field under Entry 42 of List III, separate from industrial regulation under Entries 52 of List I and 24 of List II. On that basis, the commentary states that a State law can validly acquire an undertaking as a going concern. It also notes that statutory language may validly include distilleries within the scheduled undertaking and nullify transfers made after a specified date through retrospective vesting and consequence clauses. The discussion further records that compensation, retrospective operation and book-value valuation were upheld as constitutionally and statutorily sustainable on the facts described. en-us Tue, 18 Feb 2003 00:00:00 +0530 Mon, 20 Apr 2020 10:18:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287566 Acquisition of sugar undertakings was treated as a distinct legislative field under Entry 42 of List III, separate from industrial regulation under Entries 52 of List I and 24 of List II. On that basis, the commentary states that a State law can validly acquire an undertaking as a going concern. It also notes that statutory language may validly include distilleries within the scheduled undertaking and nullify transfers made after a specified date through retrospective vesting and consequence clauses. The discussion further records that compensation, retrospective operation and book-value valuation were upheld as constitutionally and statutorily sustainable on the facts described. Case-Laws Indian Laws Tue, 18 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287566