DUNCANS AGRO INDUSTRIES LTD Vs. SECRETARY DEPARTMENT OF INDUSTRIAL DEVELOPMENT
LAWS(CAL)-1983-3-33
HIGH COURT OF CALCUTTA
Decided on March 23,1983

DUNCANS AGRO INDUSTRIES LTD Appellant
VERSUS
SECRETARY, DEPARTMENT OF INDUSTRIAL DEVELOPMENT Respondents

JUDGEMENT

Chittatosh Mookerjee, J. - (1.) On 18th January, 1978, a learned single judge of this court taking company matters had sanctioned with effect from 1st March, 1977, a scheme for amalgamation of National Tobacco Co. of India Ltd. with the petitioner, Duncan Agro Industries Ltd. The Govt. of India, who had opposed the said amalgamation scheme of the two companies, had preferred an appeal against the aforesaid order. But the appellate court had dismissed the said appeal.
(2.) On 13th February, 1978, the petitioner, Duncans Agro Industries Ltd., made an application to the Central Govt. under Section 72A of the I.T. Act, 1961, for a declaration under the said section so that the petitioner-company might carry forward and set off the accumulated loss and unabsorbed depreciation of the amalgamating company, i.e., the National Tobacco Company of India Ltd. On 16th November, 1978, a Deputy Secretary of the Govt. of India, Ministry of Industries, had sent a memo to the petitioner stating that the specified authority was unable to recommend to the Central Govt. the aforesaid scheme of amalgamation of National Tobacco Co. of India Ltd, with the petitioner-company for the purposes of Section 72A of the I.T. Act, 1961.
(3.) Thereupon, the petitioner-company obtained the present rule, inter alia, praying that the said decision of the specified authority dated 16th November, 1978, be quashed and the respondents be commanded not to give effect to the said decision. The petitioner also prayed for a writ of mandamus to direct the respondents to act according to law and to make necessary recommendations and grant the petitioner declaration that the accumulated loss and unabsorbed depreciation of the National Tobacco Co. of India Ltd. shall beseemed to be the loss and allowance for depreciation of the petitioner for the previous year in which the amalgamation of the petitioner was effected and for further declaring the said provisions relating to set-off and carry forward of loss and allowance for depreciation shall apply to the petitioner. The petitioner also prayed for an injunction to restrain respondent No. 8 from taking any action or making assessment or enforcing any claim for payment of income-tax for the assessment year 1978-79 on the basis of the petitioner's return for the said year until disposal of the said writ application.;


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