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2023 (2) TMI 644 - HC - Income TaxReopening of assessment u/s 147 - Notice issue to non-existing company - notice to amalgamating company having ceased to exist - HELD THAT:- According to this Court, the facts applicable to the present case are those which existed in case of Maruti Suzuki [2019 (7) TMI 1449 - SUPREME COURT] and not as were before the Apex Court in case of Mahagun Realtors (P.) Ltd. [2022 (4) TMI 347 - SUPREME COURT]. Here of-course, the intimation was given in reply to the notice under Section-142 in the month of March, 2018 by specifically intimating to the concerned officer of the factum of amalgamation by the petitioner and of its having acquired both the companies viz.Kaizen Stocktrade Pvt. Ltd. and Kaizen Finstock Pvt. Ltd. Again, it is the very officer who after three years of such amalgamation has issued notice which is impugned in the name of that company, which no longer existed on 30.03.2021 for the A.Y. 2016-17 and therefore, the grievance on the part of the petitioner requires to be sustained and the action of the respondent authority warrants interference. Income-tax Department had already been issued the notice by this Court at the time of considering the request for approving the scheme of amalgamation, however, that would in no manner absolve any party of its obligation to intimate the final order of amalgamation, as is otherwise expected under the law. The statute since has not provided any format nor has any specified format otherwise prescribed this intimation in response to the notice under Section-142 of the Income Tax Act should be construed as a sufficient compliance and hence, all the petitions deserve to be allowed, quashing and setting aside the show-cause notices with consequential reliefs.
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