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“scheme of arrangement”

Mergers & RestructuringSection 391-394Section 391-394328 judgments

HCL INFOSYSTEMS LTD,NEW DELHI vs. DCIT CIRCLE-25(2), NEW DELHI

In the result, the appeal filed by the assessee is allowed

ITA 8055/DEL/2019[2006-07]Status: DisposedITAT Delhi09 Apr 2026AY 2006-07

Bench: Shri S Rifaur Rahman & Shri Vimal Kumarhcl Infosystems Ltd Vs. Dcit 806, 96, Nehru Place, Circle-25(2) South Delhi 110019 New Delhi "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aaach 2420 C Appellant .. Respondent

For Appellant: Sh. Deepesh Jain, Adv. &For Respondent: Ms. Harpreet Kaur Hansra, Sr. DR
Section 143(2)Section 143(3)Section 144Section 250Section 68

Infosystems Ltd. (AY 2006-07) had merged/amalgamated with M/s HCL Infosystems Ltd pursuant to approval of scheme of arrangement by the Delhi High Court on 20.03.2007 and thus ceases to exist after the said date. 7. It is settled law that and notice/order passed in the name

NOWROSJEE WADIA AND SONS LTD (SUCESSOR TO SUNFLOWER INVESTMENT AND TEXTILES PVT LTD ),MUMBAI vs. ITO WARD 2(3)(2), MUMBAI

In the result, the appeal filed by the assessee is partly allowed

ITA 189/MUM/2026[2014-15]Status: DisposedITAT Mumbai05 Mar 2026AY 2014-15

Bench: Shri Vikram Singh Yadav & Shri Sandeep Singh Karhailassessment Year : 2014-15 Nowrosjee Wadia & Sons Ltd., Ito, Ward-2(3)(2), (Being Successor To Sunflower Mumbai. Investments & Textiles Pvt. Ltd), Vs. 4Th Floor, Neville House, J.N. Heredia Marg, Balard Estate, Mumbai-400001. Pan : Aaacn1836A (Appellant) (Respondent) For Assessee : Shri Chaitanya Joshi For Revenue : Shri Pravin Salunkhe, Sr.Dr Date Of Hearing : 19-02-2026 Date Of Pronouncement : 05-03-2026 O R D E R Per Vikram Singh Yadav, A.M :

For Appellant: Shri Chaitanya JoshiFor Respondent: Shri Pravin Salunkhe, Sr.DR
Section 10(34)Section 143(2)Section 14A

obtaining valuation certificate (Rs 505,620), company law consultancy (Rs 504,050/-) which apparently have been incurred by the assessee in relation to scheme of arrangement wherein certain other entities have merged with the assessee company and the scheme has been accorded sanction by the Hon‟ble Bombay High Court

ACIT CENTRAL CIRCLE 2(3), AHMEDABAD vs. INTAS PHARMACEUTICALS LIMITED, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

ITA 1842/AHD/2024[2016-17]Status: DisposedITAT Ahmedabad24 Feb 2026AY 2016-17

Bench: Ms. Suchitra R. Kamble & Shri Narendra Prasad Sinhaasst. Commissioner Of M/S. Intas Pharmaceuticals Ltd., Vs. Income-Tax, Corporate House, S.G. Highway, Central Circle 2(3), Nr. Sola Bridge, Thaltej, Ahmedabad Ahmedabad-380 054 [Pan : Aaaci 5120 L] (Appellant) .. (Respondent) Appellant Represented By : Shri Sher Singh, Cit (Dr) Respondent Represented By: Shri S. N. Soparkar, Sr. Advocate & Ms. Urvashi Sodhan, Ar Date Of Hearing 07.01.2026 Date Of Pronouncement 24.02.2026 O R D E R Per Ms. Suchitra R. Kamble:-

Section 250

Gujarat High Court, and the goodwill so arising was not self-generated, but traceable to a valid and binding scheme of arrangement. We are therefore in agreement with the view taken in Suzlon Energy Ltd. that such goodwill qualifies as a depreciable intangible asset under section

AMBALAL SARABHAI ENTERPRISES LTD.,,BARODA vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX-1,, BARODA

In the result, appeal filed by the assessee is allowed

ITA 903/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad18 Feb 2026AY 2011-12

Bench: The Itat. Considering The Same, The Order Passed By Itat Was Recalled & The Appeal Of The Assessee Fixed For Adjudication Afresh On Merits, Vide Order In Ma No.94/Ahd/2025, Dated 18.12.2025. The Present Appeal, Accordingly, Has Come Up For Hearing Before Us.

For Appellant: Shri Bandish Soparkar, ARFor Respondent: Shri Alpesh Parmar, CIT.DR
Section 115JSection 143(3)Section 263

seems to be emerged is with regard to the Hon'ble Supreme Court allowing the company's appeal in respect of sanction of scheme of arrangement of transfer of erstwhile Swastik division and Electronics division and not in respect of demands in question under DPCO.  The current proceedings have been ... travelled to the hon’ble apex court. That the matter before the apex court was a completely different matter relating to sanction of scheme of arrangement of ITA No.903/Ahd/2016 [Ambalal Sarabhai Enterprises Ltd. vs. PCIT] A.Y. 2011-12 - 10 – transfer of two divisions of the assesses undertaking. Even before

KOVALAM RESORT PRIVATE LIMITED ,MUMBAI vs. DY. COMMISSIONER OF INCOME TAX 2(1)(1), MUMBAI

In the result, the appeal of the assessee for Assessment Year

ITA 6580/MUM/2025[2012-13]Status: DisposedITAT Mumbai30 Jan 2026AY 2012-13

Bench: Shri Anikesh Banerjee & Shri Makarand Vasant Mahadeokar1. Ita No. 6580/Mum/2025 (Assessment Year: 2012-13) 2. Ita No. 6578/Mum/2025 (Assessment Year: 2013-14) & 3. Ita No. 6579/Mum/2025 (Assessment Year: 2014-15) Kovalam Resort Private Dcit 2(1)(1), Limited 561, Aayakar The Leela, Sahar, Andheri Vs. Bhavan, M. K. East, Mumbai-400 059 Road, Mumbai- 400 020 Pan/Gir No. Aaeck4804H (Applicant) (Respondent) Assessee By Shri Dharan Gandi & Shri Ravi Gupta, Ld. Ars Revenue By Shri Ritesh Misra, Ld. Dr Date Of Hearing 22.01.2026 Date Of Pronouncement 30.01.2026

Section 115JSection 142(1)Section 143(1)Section 143(2)Section 143(3)

assessee acquired the hotel undertaking of M/s Hotel Leela Venture Ltd. on a going concern basis by way of slump sale under a Scheme of Arrangement sanctioned by the Hon’ble Bombay High Court under sections 391 to 394 of the Companies Act, 1956, vide order dated 24.02.2012, with ... valuation carried out by M/s BDO Consulting (P) Ltd., and that the transaction was a genuine slump sale. It was submitted that the scheme of arrangement had been approved by the Hon’ble Bombay High Court and the consideration was based on fairness report of a merchant banker. The Assessing

KOVALAM RESORT PRIVATE LIMTIED ,MUMBAI vs. DY. COMMISSIONER OF INCOME TAX 2(1)(1), MUMBAI

In the result, the appeal of the assessee for Assessment Year

ITA 6579/MUM/2025[2014-15]Status: DisposedITAT Mumbai30 Jan 2026AY 2014-15

Bench: Shri Anikesh Banerjee & Shri Makarand Vasant Mahadeokar1. Ita No. 6580/Mum/2025 (Assessment Year: 2012-13) 2. Ita No. 6578/Mum/2025 (Assessment Year: 2013-14) & 3. Ita No. 6579/Mum/2025 (Assessment Year: 2014-15) Kovalam Resort Private Dcit 2(1)(1), Limited 561, Aayakar The Leela, Sahar, Andheri Vs. Bhavan, M. K. East, Mumbai-400 059 Road, Mumbai- 400 020 Pan/Gir No. Aaeck4804H (Applicant) (Respondent) Assessee By Shri Dharan Gandi & Shri Ravi Gupta, Ld. Ars Revenue By Shri Ritesh Misra, Ld. Dr Date Of Hearing 22.01.2026 Date Of Pronouncement 30.01.2026

Section 115JSection 142(1)Section 143(1)Section 143(2)Section 143(3)

assessee acquired the hotel undertaking of M/s Hotel Leela Venture Ltd. on a going concern basis by way of slump sale under a Scheme of Arrangement sanctioned by the Hon’ble Bombay High Court under sections 391 to 394 of the Companies Act, 1956, vide order dated 24.02.2012, with ... valuation carried out by M/s BDO Consulting (P) Ltd., and that the transaction was a genuine slump sale. It was submitted that the scheme of arrangement had been approved by the Hon’ble Bombay High Court and the consideration was based on fairness report of a merchant banker. The Assessing

KOVALAM RESORT PRIVATE LIMITED ,MUMBAI vs. DY. COMMISSIONER OF INCOME TAX 2(1)(1), MUMBAI

ITA 6578/MUM/2025[2013-14]Status: DisposedITAT Mumbai30 Jan 2026AY 2013-14
Section 115JSection 142(1)Section 143(1)Section 143(2)Section 143(3)

nassessee acquired the hotel undertaking of M/s Hotel Leela\nVenture Ltd. on a going concern basis by way of slump sale under\na Scheme of Arrangement sanctioned by the Hon'ble Bombay\nHigh Court under sections 391 to 394 of the Companies Act,\n1956, vide order dated 24.02.2012, with

DCIT(CC)-8(3), MUMBAI vs. SHAPOORJI PALLONI AND COMPANY PRIVATE LIMITED, MUMBAI

ITA 1217/MUM/2025[2013-14]Status: DisposedITAT Mumbai23 Jan 2026AY 2013-14
Section 143(3)Section 144C(3)Section 92Section 92B

Assessee's Appeal]\n27.\nThe facts relevant for adjudication of the issue under consideration\nare as follows. Composite scheme of arrangement was entered\nbetween the Assessee, Sterling Investment Corporation Pvt. Ltd.,\nCyrus Investments Ltd. Shapoorji Pallonji & Co (Rajkot) Pvt. Ltd. and\ntheir respective shareholders w.e.f. appointed date 01/04/2008 and\nwhich ... n06/07/2010.\n28.\nIn November 2012, the Assessee paid an amount of\nINR.25,00,00,000 as stamp duty pertaining to the aforesaid scheme\nof arrangement. Out of the aforesaid amount paid, the Assessee's\nshare of expenses was INR.15,64,81,274/-. The balance amount\nwas reimbursed to the Assessee

DCIT(CC)-8(3), MUMBAI vs. SHAPOORJI PALLONJI AND COMPANY PRIVATE LIMITED, MUMBAI

ITA 1211/MUM/2025[2012-13]Status: DisposedITAT Mumbai23 Jan 2026AY 2012-13
Section 143(3)Section 144C(3)Section 92Section 92B

Assessee's Appeal]\n27.\nThe facts relevant for adjudication of the issue under consideration\nare as follows. Composite scheme of arrangement was entered\nbetween the Assessee, Sterling Investment Corporation Pvt. Ltd.,\nCyrus Investments Ltd. Shapoorji Pallonji & Co (Rajkot) Pvt. Ltd. and\ntheir respective shareholders w.e.f. appointed date 01/04/2008 and\nwhich ... n06/07/2010.\n28.\nIn November 2012, the Assessee paid an amount of\nINR.25,00,00,000 as stamp duty pertaining to the aforesaid scheme\nof arrangement. Out of the aforesaid amount paid, the Assessee's\nshare of expenses was INR.15,64,81,274/-. The balance amount\nwas reimbursed to the Assessee

SHAPOORJI PALLONJI AND COMPANY PRIVATE LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE -3(3)(1), MUMBAI

Appeals are partly allowed

ITA 1150/MUM/2025[2012-13]Status: DisposedITAT Mumbai23 Jan 2026AY 2012-13

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI JAGADISH (Accountant Member)

For Appellant: Shri Rajan Vora, Shri Nikhil TiwariFor Respondent: Shri Ajay Chandra & Shri Pravin
Section 143(3)Section 144C(3)Section 92Section 92B

Ground No. 3 to 9 [Assessee’s Appeal] 27. The facts relevant for adjudication of the issue under consideration are as follows. Composite scheme of arrangement was entered between the Assessee, Sterling Investment Corporation Pvt. Ltd., Cyrus Investments Ltd. Shapoorji Pallonji & Co (Rajkot) Pvt. Ltd. and their respective shareholders w.e.f ... 06/07/2010. 28. In November 2012, the Assessee paid an amount of INR.25,00,00,000 as stamp duty pertaining to the aforesaid scheme of arrangement. Out of the aforesaid amount paid, the Assessee's share of expenses was INR.15,64,81,274/-. The balance amount was reimbursed to the Assessee

SHAPOORJI PALLONJI AND COMPANY PVT LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 8(3), MUMBAI

Appeals are partly allowed

ITA 1149/MUM/2025[2013-14]Status: DisposedITAT Mumbai23 Jan 2026AY 2013-14

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI JAGADISH (Accountant Member)

For Appellant: Shri Rajan Vora, Shri Nikhil TiwariFor Respondent: Shri Ajay Chandra & Shri Pravin
Section 143(3)Section 144C(3)Section 92Section 92B

Ground No. 3 to 9 [Assessee’s Appeal] 27. The facts relevant for adjudication of the issue under consideration are as follows. Composite scheme of arrangement was entered between the Assessee, Sterling Investment Corporation Pvt. Ltd., Cyrus Investments Ltd. Shapoorji Pallonji & Co (Rajkot) Pvt. Ltd. and their respective shareholders w.e.f ... 06/07/2010. 28. In November 2012, the Assessee paid an amount of INR.25,00,00,000 as stamp duty pertaining to the aforesaid scheme of arrangement. Out of the aforesaid amount paid, the Assessee's share of expenses was INR.15,64,81,274/-. The balance amount was reimbursed to the Assessee

KADIMI SPECIAL STEELS PRIVATE LIMITED(AMALGAMATED WITH KADIMI TOOL MANUFACTURING COMPANY PRIVATE LIMITED),DELHI vs. ACIT, CIRCLE-13(1), DELHI

In the result, Appeals of the Assessee are allowed

ITA 2246/DEL/2022[2018-19]Status: DisposedITAT Delhi23 Jan 2026AY 2018-19

Bench: Shri Yogesh Kumar U.S. & Shri Brajesh Kumar Singh

Section 143(3)Section 144BSection 144C(3)

specific case of the Assessee that the intimation of the said merger/Amalgamation along with the copy of the NCLT Order providing the scheme of arrangement, copy of the amalgamation NOC issued by the DCIT and the scheme of amalgamation were furnished to DCIT, Circle 13(1), C. R. Building

KADIMI SPECIAL STEELS PRIVATE LIMITED(AMALGAMATED WITH KADIMI TOOL MANUFACTURING COMPANY PRIVATE LIMITED),NEW DELHI vs. ACIT, CIRCLE-13(1), DELHI

In the result, Appeals of the Assessee are allowed

ITA 2245/DEL/2022[2017-18]Status: DisposedITAT Delhi23 Jan 2026AY 2017-18

Bench: Shri Yogesh Kumar U.S. & Shri Brajesh Kumar Singh

Section 143(3)Section 144BSection 144C(3)

specific case of the Assessee that the intimation of the said merger/Amalgamation along with the copy of the NCLT Order providing the scheme of arrangement, copy of the amalgamation NOC issued by the DCIT and the scheme of amalgamation were furnished to DCIT, Circle 13(1), C. R. Building

ACID, CIRCLE-5(1), KOLKATA, KOLKATA vs. EMAMI REALTY LIMITED, KOLKATA

In the result, both the appeal of the Revenue and cross objections of the assessee are\ndismissed

ITA 1457/KOL/2024[2021-22]Status: DisposedITAT Kolkata12 Jan 2026AY 2021-22
Section 143(3)Section 194ISection 2Section 250Section 50CSection 56Section 56(2)Section 56(2)(x)

Section 2(19AA)(ii) of the Act. The Ld. DR appearing for the\nRevenue relied on the AO's findings that, though the Scheme of Arrangement contained details\nof liabilities of Rs.112.38 crores by way of liabilities relatable to the demerged undertaking, but\nthe actual value of liabilities which ought ... order of the\nHon'ble NCLT [Page 121 of Factual PB](extracted in submissions above) and Note No.\n51 titled as 'Scheme of Arrangement for demerger of Real Estate undertaking of OSAIPL\ninto Emami Realty Limited' [Page 121 of Factual PB] appearing in the Notes to Audited\nFinancial Statements

SHRIRAM FINANCE LTD.,CHENNAI vs. PCIT, , CHENNAI-

ITA 2043/CHNY/2025[2022-23]Status: DisposedITAT Chennai08 Jan 2026AY 2022-23

Bench: Shri M. Balaganesh & Shri S.S. Viswanethra Raviआयकर अपील सं./I.T.A. No.2043/Chny/2025 िनधा"रण वष"/Assessment Year: 2022-23 Shriram Finance Limited, Vs. The Principal Commissioner Of [Since Shriram City Union Finance Income Tax – 3, Limited Amalgamated With Shriram Chennai. Transport Finance Co. Limited & Presently Known As Shriram Finance Limited], Sri Towers, Plot No. 14A, South Phase, Industrial Estate, Guindy, Chennai 600 032. [Pan:Aaacs7018R] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri R. Sivaraman, Advocate ""थ" की ओर से/Respondent By : Shri C.N. Bipin, Cit सुनवाई की तारीख/ Date Of Hearing : 15.10.2025 घोषणा की तारीख /Date Of Pronouncement : 08.01.2026 आदेश /O R D E R Per S.S. Viswanethra Ravi: This Appeal Filed By The Assessee Is Directed Against The Order Dated 28.05.2025 Passed By The Ld. Principal Commissioner Of Income Tax – 3, Chennai For The Assessment Year 2022-23 Under Section 263 Of The Income Tax Act, 1961 [“Act” In Short].

For Appellant: Shri R. Sivaraman, AdvocateFor Respondent: Shri C.N. Bipin, CIT
Section 143(3)Section 234DSection 263Section 36(1)(vii)Section 36(1)(viia)Section 4

submission of assessee to the Income Tax Department is as follows: "We wish to bring to your kind attention that pursuant to composite Scheme of Arrangements (Amalgamation and Demerger) sanctioned by NCLT 6 I.T.A. No.2043/Chny/25 Chennai vide order dated 09/11/2022 [for which the assessing officer of the then amalgamating company ... recovery of any tax statutorily due from transferor or transferee company or any other person liable to pay such tax due, the scheme of arrangement as approved by NCLT was not be interfered with." 6. The ld. DR submits that the case laws as cited by the assessee Kamala Muthaiah

DCIT, CIRCLE 3(4), MUMBAI, MUMBAI vs. TATA CONSULTANCY SERVICES LIMITED, MUMBAI

ITA 2245/MUM/2025[2016-17]Status: DisposedITAT Mumbai30 Dec 2025AY 2016-17
For Appellant: Shri Porus Kaka, Sr. AdvocateFor Respondent: Shri Ajay Chandra, CIT DR
Section 92CSection 92C(3)

hands of Tata Sons Ltd. and not in the hands of the\nassessee, ignoring the following vital facts:\n(i) As per the scheme of arrangement the TCS division of M/s Tata Sons Limited\nwas corporatized into M/s Tata Consultancy Services Limited (the assessee)\nunder the approval

DCIT, CIRCLE 3 4, MUMBAI, MUMBAI vs. TATA CONSULTANCY SERVICES LIMITED, MUMBAI

In the result, appeals of both, revenue and assessee are partly\nallowed for all the three

ITA 2244/MUM/2025[2017-18]Status: DisposedITAT Mumbai30 Dec 2025AY 2017-18
Section 92CSection 92C(3)

hands of Tata Sons Ltd. and not in the hands of the\nassessee, ignoring the following vital facts:\n(i) As per the scheme of arrangement the TCS division of M/s Tata Sons Limited\nwas corporatized into M/s Tata Consultancy Services Limited (the assessee)\nunder the approval

TATA CONSULTANCY SERVICES LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOMETAX 3(4), MUMBAI

In the result, appeals of both, revenue and assessee are partly allowed for all the three assessment years

ITA 1518/MUM/2025[2018-19]Status: DisposedITAT Mumbai30 Dec 2025AY 2018-19

Bench: Shri Pawan Singh & Shri Girish Agrawal

For Appellant: Shri Porus Kaka, Sr. Advocate and Shri Manish Kumar Kanth, AdvocateFor Respondent: Shri Ajay Chandra, CIT DR
Section 1Section 92CSection 92C(3)

hands of Tata Sons Ltd. and not in the hands of the assessee, ignoring the following vital facts: (i) As per the scheme of arrangement the TCS division of M/s Tata Sons Limited was corporatized into M/s Tata Consultancy Services Limited (the assessee) under the approval of Hon'ble High ... hands of Tata Sons Ltd. and not in the hands of the assessee, ignoring the following vital facts: i. As per the scheme of arrangement the TCS division of M/s Tata Sons Limited was corporatized Into M/s Tata Consultancy Services Limited (the assessee) under the approval of Hon'ble High

TATA CONSULTANCY SERVICES LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOMETAX 3(4), MUMBAI

In the result, appeals of both, revenue and assessee are partly\nallowed for all the three

ITA 1517/MUM/2025[2017-18]Status: DisposedITAT Mumbai30 Dec 2025AY 2017-18
Section 92CSection 92C(3)

hands of Tata Sons Ltd. and not in the hands of the\nassessee, ignoring the following vital facts:\n(i) As per the scheme of arrangement the TCS division of M/s Tata Sons Limited\nwas corporatized Into M/s Tata Consultancy Services Limited (the assessee)\nunder the approval

TATA CONSULTANCY SERVICES LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOMETAX 3(4), MUMBAI

ITA 1516/MUM/2025[2016-17]Status: DisposedITAT Mumbai30 Dec 2025AY 2016-17
Section 92CSection 92C(3)

hands of Tata Sons Ltd. and not in the hands of the\nassessee, ignoring the following vital facts:\n(i) As per the scheme of arrangement the TCS division of M/s Tata Sons Limited\nwas corporatized into M/s Tata Consultancy Services Limited (the assessee)\nunder the approval

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