Facts As per the Scheme, about 9 companies merged with 2 companies. The Appointed Date of the Schemes was 01.01.2015. The Schemes were duly approved and sanctioned by the NCLT, Guwahati vide Orders dated 18.05.2017 and 30.08.2017. NCLT, Chennai sanctioned the Schemes vide Orders dated 16.10.2017, 20.10.2017, 26.10.2017, 28.12.2017, 10.01.2018, 20.04.2018 and 01.05.2018. Transferee Companies […]
CIT v GRACE COLLIS [2001] 115 TAXMAN 326 (SC)
The assessees were shareholders of Ambassador Steamship (P.) Ltd. Ambassador Steamship Pvt. Ltd. (‘the amalgamating company’) was amalgamated with Collis Line Pvt. Ltd. (‘the amalgamated company’). As per the scheme, the members of the amalgamating company, were issued 14 equity shares of Rs. 100 each, credited as fully paid-up, in the amalgamated company for each […]