Supreme Court · 2017 INSC 220 · Decided 9 March 2017
M/S. Mcdowell & Company LTD. v. Commissioner of Income-Tax, Karnataka Central, Bangalore
- Court
- Supreme Court of India
- Citation
- 2017 INSC 220 · [2017] 2 S.C.R. 856
- Case number
- CIVIL APPEAL No. 3893/2006
- Decided
- 9 March 2017
- Bench
- A.K. SIKRI, ASHOK BHUSHAN (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act; Income Tax Act Section 72A
Headnote
F G H [20 I 7] 2 S.C.R. 856 MIS. MCDOWELL & COMPANY LTD. v. COMMISSIONER OF INCOME-TAX, KARNATAKA CENTRAL, BANGALORE (Civil Appeal No. 3893 of2006) MARCH 09, 2017 [ A. K. SIKRI AND ASHOK BHUSHAN, JJ.J Income Tax Act, 1961 - s. 72A - Provisions relating to carry forward and set off of ·treated as income of assessee company, which took·over sick company through scheme of amalgamation - Tribunal granted benefit of provisions of s. 72A and also held that waiver of interest by financial institutions would not be treated as income of assessee uls. 41(/) - Said order
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