Amalgamation of Companies

1. (1) When two or more companies are to be amalgamated by the order of a Court or of

the Central Government and the order is to take effect from a date earlier to the

date of the order and any two or more such companies have sold or purchased any goods to or from each other in the period commencing on the date from which the order is to take effect and ending on the date of the order, then such transactions of sale and purchase will be included in the turnover of the sales or of purchases of the respective companies and will be assessed to tax accordingly.

1. (2) Notwithstanding anything contained in the said order, for all of the purposes of this Act, the said two or more companies will be treated as distinct companies and will be treated as such for all periods up to the date of the said order and the registration certificates of the said companies will be cancelled, where necessary, with effect from the date of the said order.
2. (3) Words and expressions used in this Section, but not defined, will have the respective meanings to them in the Companies Act 1956.