Supreme Court · 2022 INSC 389 · Decided 5 April 2022
Principal Commissioner of Income Tax (Central) – 2 v. M/S. Mahagun Realtors (P) LTD.
- Court
- Supreme Court of India
- Citation
- 2022 INSC 389 · [2022] 4 S.C.R. 502
- Case number
- CIVIL APPEAL No. 2716/2022
- Decided
- 5 April 2022
- Bench
- UDAY UMESH LALIT, S. RAVINDRA BHAT (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 2(1A), 481, 394(2); Income Tax Act Section 2(1A), 2(31), 170(2)
Headnote
Income Tax Act, 1961 - ss. 2(1A), 2(31) and 170(2) - Amalgamation of companies - Effect of amalgamation in the context of income tax - Held: The combined effect of s.394(2) of the Companies Act, 1956, other provisions of the Income Tax Act, is that despite amalgamation, the business, enterprise and undertaking of the transferee or amalgamated company- which ceases to exist, after amalgamation, is treated as a continuing one, and any benefits, by way of carry forward of losses (of the
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