Amalgamation and Tax Liability: Supreme Court clarifies treatment of waived interest under Section 41(1) and 72A of Income Tax Act: M/s. McDowell & Company Ltd. vs. Commissioner of Income-Tax (2017) INSC 181 (09 March 2017)

/ A.K. Sikri, Amalgamation and Tax Liability, Ashok Bhushan, Income Tax Act, 1961, Income Tax Act, 1961 with Section 41(1), Income Tax Act, 1961 with Section 72A, Judges

Can a company that takes over a sick company through amalgamation also inherit the tax liabilities of the sick company, especially when it benefits from tax exemptions? The Supreme Court of India, in this case, examined the interplay between Section 41(1) and Section 72A of the Income Tax Act, 1961. This case revolves around whether […]

Amalgamation and Tax Liability: Supreme Court clarifies treatment of waived interest under Section 41(1) and 72A of Income Tax Act: M/s. McDowell & Company Ltd. vs. Commissioner of Income-Tax (2017) INSC 181 (09 March 2017) Read Post »