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2021 (9) TMI 121 - AT - Income TaxValidity of assessment against non-existent entity - scheme of amalgamation conceived - Assessment pertains to the original assessee/amalgamating entity - valid assessment in case of a surviving entity - HELD THAT:- Lower authorities had issued Section 142(1) notices; even post amalgamation, to former entity, M/s. Vivimed Labs (Alathur) Pvt. Ltd., only. So far as the Revenue's arguments that with reference to the lower authorities have duly incorporated names of both these entities, we find that it had adopted the very line of reasoning before their lordships in paras 17(i) as well as (vii) thereof which stood rejected in the hon'ble apex court. We further note that their lordships have considered all these issues in the foregoing detailed judgment whilst concluding that such an assessment does not satisfy the legal requirement involving a duly existent entity. As lastly contended that the lower authorities could not be allowed to escape their liability to escape from their duty to frame a valid assessment in case of a surviving entity only just by quoting the former entity's PAN (supra) since the same ceases to exist post amalgamation. Be that as it may, the fact remains that we have taken note of all the case material on record suggesting the learned lower authorities to have issued notice(s) (supra) to a non-existent entity only which renders the entire assessment as an invalid one. - Decided in favour of assessee.
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