https://www.taxtmi.com/caselaws?id=402150 After sanction of an amalgamation scheme, a transferee company that receives sugar stock already covered by a valid entry tax exemption cannot be denied the same benefit on the ground that the transfer amounts to a fresh purchase. The existing Form K and exemption attached to the stock remained effective, and the transferee stepped into the transferor's position for the relevant tax benefit. Requiring a separate certificate from the transferor, which had ceased to exist after amalgamation, was unjustified. The refusal to issue Form D was therefore held unsustainable, and the claimed exemption benefit was allowed. en-us Tue, 15 Dec 2020 00:00:00 +0530 Thu, 14 Nov 2024 14:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402150 After sanction of an amalgamation scheme, a transferee company that receives sugar stock already covered by a valid entry tax exemption cannot be denied the same benefit on the ground that the transfer amounts to a fresh purchase. The existing Form K and exemption attached to the stock remained effective, and the transferee stepped into the transferor's position for the relevant tax benefit. Requiring a separate certificate from the transferor, which had ceased to exist after amalgamation, was unjustified. The refusal to issue Form D was therefore held unsustainable, and the claimed exemption benefit was allowed. Case-Laws VAT / Sales Tax Tue, 15 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402150