https://www.taxtmi.com/caselaws?id=28459 The High Court sanctioned the amalgamation scheme between National Tobacco Co. of India Ltd. and Duncan Agro Industries Ltd., effective from 1st March 1977. The Government of India's appeal against this scheme was dismissed by the appellate court. The Central Government rejected the application under Section 72A of the I.T. Act, 1961, for carrying forward losses and unabsorbed depreciation, citing concerns about retrenchment, public interest, and potential windfall. The court found the rejection valid, emphasizing the authority's consideration of relevant factors and adherence to statutory functions. The rule was discharged without costs, with a four-week stay on the order's operation. en-us Wed, 23 Mar 1983 00:00:00 +0530 Mon, 22 Feb 2010 17:56:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28459 The High Court sanctioned the amalgamation scheme between National Tobacco Co. of India Ltd. and Duncan Agro Industries Ltd., effective from 1st March 1977. The Government of India's appeal against this scheme was dismissed by the appellate court. The Central Government rejected the application under Section 72A of the I.T. Act, 1961, for carrying forward losses and unabsorbed depreciation, citing concerns about retrenchment, public interest, and potential windfall. The court found the rejection valid, emphasizing the authority's consideration of relevant factors and adherence to statutory functions. The rule was discharged without costs, with a four-week stay on the order's operation. Case-Laws Income Tax Wed, 23 Mar 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28459