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2021 (11) TMI 431 - HC - Income TaxValidity of reopening of assessment u/s 147 - notice to non existing entity - Curable defect u/s 292B or not? - HELD THAT:- As per ALOK KNIT EXPORTS LIMITED (M/S. NIRAJ REALTORS & SHARES PVT. LTD. [2021 (8) TMI 777 - BOMBAY HIGH COURT] when a company is merging into another company that merging company ceases to exist. Principal Commissioner of Income Tax, who is supposed to have approved the initiating of proceedings under Section 148 also should have brought to the notice of or guided respondent no.1 that the notice ought to be issued in the name of petitioner and not Company which ceased to exist. - Decided in favour of assesse.
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