2014 (12) TMI 1308 - HC - Income Tax

Proceedings under Section 153A/C - Amalgamation of two companies - Assessment to be made on which entity Held that - This appeal by the Revenue has to be dismissed in view of the decision of this Court in Commissioner of Income Tax-III versus Dimension Apparels Private Limited 2014 (11) TMI 181 - DELHI HIGH COURT .Noticeably the Assessing Officer during the course of the proceedings under Section 153A/C of the Income Tax Act 1961 was informed about the amalgamation which resulted in dissolution of the respondent-assessee but no remedial or effective steps were taken. The appeal is accordingly dismissed.

Summary

The Delhi High Court dismissed the Revenue's appeal in ITA 742/2014 based on previous decisions. The Assessing Officer was informed about the amalgamation resulting in the dissolution of the respondent-assessee, but no effective steps were taken. The appeal was accordingly dismissed.