Amalgamation not comes within scope of transfer u/s. 2(47)

HIGH COURT OF KARNATAKA Commissioner of Income-tax, Central Circle, Bangalore Versus Bhuwalka Steel Industries Ltd. IT APPEAL NO. 922 OF 2006 DECEMBER 3, 2012 JUDGMENT 1. Appeal by the revenue under Section 260A of the Income Tax Act, 1961 [for short, the Act], raising the following substantial question of law: Whether the Appellate Authorities were correct in holding that the assessee would be entitled to claim deduction over the industrial undertaking taken over from M/s. A.A. Alloys Ltd., despite the prohibition contained in sub-section (2) of Section 801 which would amoun...