2021 (11) TMI 811 - DELHI HIGH COURT - Income Tax

Head Note / Extract:
Validity of reopening of assessment u/s 147 - A argued admittedly, notice(s) were issued to entities which were not in existence at the relevant time, as they had merged with the petitioner-company i.e., GE India Industrial Pvt. Ltd. - HELD THAT:- As the impugned notice(s) issued under Section 148 of the Act cannot be sustained, as they were issued to entities [i.e., GE India Technology Centre Pvt. Ltd. and GE India Exports Pvt. Ltd.which were not in existence at the relevant time, as they had merged with the petitioner-company i.e., GE India Industrial Pvt. Ltd. Therefore, the impugned notice(s) dated 30.06.2021 are set aside. The respondents/revenue will have liberty to take next steps in the matter, albeit as per law. In case any such steps are taken, the petitioner-company will have the liberty to assail the same, in accordance with law.