https://www.taxtmi.com/caselaws?id=55051 The Appellate Tribunal ITAT Ahmedabad allowed the appeal for statistical purposes, directing further consideration by the ITO regarding the allowability of legal expenses incurred by the assessee-company in the context of amalgamation. The Tribunal emphasized distinguishing between amalgamating and amalgamated companies and treating legal expenses based on their nature rather than the transaction involved. The decision followed the Madras High Court ruling in Bush Boake Allen India Ltd., stating that legal expenses related to amalgamation should be allowed based on their character, not the nature of the transaction. en-us Fri, 26 Oct 1990 00:00:00 +0530 Tue, 23 Nov 2010 16:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55051 The Appellate Tribunal ITAT Ahmedabad allowed the appeal for statistical purposes, directing further consideration by the ITO regarding the allowability of legal expenses incurred by the assessee-company in the context of amalgamation. The Tribunal emphasized distinguishing between amalgamating and amalgamated companies and treating legal expenses based on their nature rather than the transaction involved. The decision followed the Madras High Court ruling in Bush Boake Allen India Ltd., stating that legal expenses related to amalgamation should be allowed based on their character, not the nature of the transaction. Case-Laws Income Tax Fri, 26 Oct 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55051