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2015 (3) TMI 1413 - HC - Income TaxAssessment in respect of the company which was amalgamated u/s 391/394 of the Companies Act - Assessment in name of the transferor or amalgamating company - corporate death of an entity upon amalgamation - Curable defect u/s 292B - HELD THAT:- Revenue was informed that the original assessee (i.e. the transferor under the scheme of amalgamation) had been dissolved pursuant to the amalgamation scheme and approved by the Court and that consequently the return for AY 2009-2010 had not been filed by the original assessee. A reply to the Revenue’s questionnaire was given by the assessee on 12th November, 2010, again bringing to the notice of the authorities that the scheme of amalgamation had dissolved the original assessee in whose shoes the transferee company had completely stepped in. Despite this, the AO finalized the assessment u/s 153C, in respect of the original assessee. In appeal it was successfully contended on behalf of the assessee – which was represented by the transferee that the assessment under Section 153C was invalid since it was completed in respect of a non-existent entity. This order was appealed against by the Revenue unsuccessfully; the ITAT rejected its appeal. We notice that the ITAT followed the ruling of this Court in M/s. Spice Entertainment Ltd. [2011 (8) TMI 544 - DELHI HIGH COURT] subsequently followed in other rulings (refer to Additional Commissioner of Income Tax vs. Micra India Pvt. Ltd [2015 (5) TMI 613 - DELHI HIGH COURT] - No substantial question of law arises.
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