https://www.taxtmi.com/caselaws?id=305613 A scheme of amalgamation was not to be refused merely because the Income Tax Department raised objections on alleged revenue loss, loss carry-forward, valuation, or possible anti-avoidance concerns, where the restructuring had a commercial rationale and tax consequences were incidental. The Tribunal treated income-tax questions as matters for assessment proceedings and found no concrete prejudice to revenue. It also found prima facie compliance with the Companies Act, 2013 and allied requirements, including statutory reports, notice publication, service on regulators, and absence of adverse objection. The amalgamation was therefore sanctioned, the transferor company ordered dissolved without winding up, and consequential vesting directions issued. en-us Thu, 19 May 2022 00:00:00 +0530 Thu, 15 Dec 2022 10:01:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305613 A scheme of amalgamation was not to be refused merely because the Income Tax Department raised objections on alleged revenue loss, loss carry-forward, valuation, or possible anti-avoidance concerns, where the restructuring had a commercial rationale and tax consequences were incidental. The Tribunal treated income-tax questions as matters for assessment proceedings and found no concrete prejudice to revenue. It also found prima facie compliance with the Companies Act, 2013 and allied requirements, including statutory reports, notice publication, service on regulators, and absence of adverse objection. The amalgamation was therefore sanctioned, the transferor company ordered dissolved without winding up, and consequential vesting directions issued. Case-Laws Companies Law Thu, 19 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305613