Tagged “amalgamation”

2 articles on amalgamation.

Supreme CourtSupreme Court of India

Miheer H. Mafatlal v. Mafatlal Industries: the company court's jurisdiction to sanction a scheme

The Supreme Court laid down the canonical checklist for sanctioning a scheme of arrangement — the court's role is supervisory, not appellate, and it does not sit in appeal over the commercial wisdom of the statutory majority.

Valkya Editorial·14 Jun 2026·8 min

Supreme CourtSupreme Court of India

Jindal Equipment Leasing v. CIT: shares received in amalgamation can be Section 28 business income

On 9 January 2026, a two-judge bench held that shares received in an amalgamation in substitution of stock-in-trade are taxable as business income under Section 28; Section 47(vii) is confined to capital assets.

Valkya Editorial·1 Jun 2026·9 min