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2023 (12) TMI 98 - MADRAS HIGH COURTValidity of reassessment against company not in existence - scheme of merger concluded - assessment against Transferor Company - Investment in the Mutual Fund had not been disclosed - HELD THAT:- No material to show that the petitioner Company had concealed any investment because once the petitioner Company/Transferor Company is merged with the Transferee Company, the entire investment will stand transferred in the name of the Transferee Company and same also got reflected in the Book of Accounts of the Transferee Company. Hence, the interest of the revenue was no way affected. However, without verifying the same, the respondent had issued notice in the name of the petitioner Company/Transferor Company [which is not in existence on and from 14.10.2011], even after receipt of the communication of merger vide letter dated 29.03.2012 and passed the impugned Assessment Order. Hence, for all the aforesaid reasons, the impugned Assessment Order is liable to be set aside and accordingly set aside. Assessee appeal allowed.
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