Amalgamation scheme effective from the date it was sanctioned by High Courts: SC

PCIT Vs. Intas Pharmaceuticals Ltd. (Supreme Court) While dismissing a Special Leave Petition (SLP), the Supreme Court reiterated that the date provided in the scheme of amalgamation is the effective date. Feeling aggrieved and dissatisfied with the impugned judgment and order passed by the High Court of Gujarat at Ahmedabad in Tax Appeal No. 311/2019, the Revenue preferred the Special Leave Petition. The respondent in the matter is Intas Pharmaceuticals Ltd. From the impugned judgment and order passed by the High Court, it appears that the High Court has heavily relied upon the earlier decisi...