https://www.taxtmi.com/caselaws?id=291509 Scheme of amalgamation sanctioned by a rehabilitation authority had become operative and the successor company, having merged with the transferor, assumed all liabilities including a fiscal penalty imposed for failure to meet export obligations; the successor did not pursue statutory waiver remedies and cannot revive a withdrawn challenge by the transferor, so the writ was dismissed. The court treated the merger as binding on rights and liabilities, held absence of any reserved liberty to re-agitate the issue after withdrawal, and affirmed liability for the fiscal penalty without a waiver under the scheme. en-us Tue, 04 Feb 2020 00:00:00 +0530 Tue, 27 Jan 2026 14:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291509 Scheme of amalgamation sanctioned by a rehabilitation authority had become operative and the successor company, having merged with the transferor, assumed all liabilities including a fiscal penalty imposed for failure to meet export obligations; the successor did not pursue statutory waiver remedies and cannot revive a withdrawn challenge by the transferor, so the writ was dismissed. The court treated the merger as binding on rights and liabilities, held absence of any reserved liberty to re-agitate the issue after withdrawal, and affirmed liability for the fiscal penalty without a waiver under the scheme. Case-Laws Customs Tue, 04 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291509