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2024 (3) TMI 735 - BOMBAY HIGH COURTReopening notice issued to a non-existent entity - scheme of amalgamation approved - a wholly owned subsidiary of Petitioner (“LSIPL”) stood amalgamated with Petitioner - notice issued to company amalgamated for non filling Return - In the affidavit-in-reply, it is stated that the notice was issued because information was received through NMS/ITBA system under Multiyear NMS which is Non-filers Monitoring System (Priority 1) that LSIPL had not filed its return of income for AY 2013-2014 and AY 2014-2015 HELD THAT:- As stated that certain transactions were noticed under the PAN number of LSIPL during financial years pertaining to these assessment years, i.e., AY 2013-2014 and AY 2014-2015 and hence, for the purpose of applicability of provisions of the Act, LSIPL was not non-existing company. At the same time in the affidavit-in-reply it is further stated “It is accepted that company was not required to file its income tax return from the appointed date as per scheme of amalgamation. As noted earlier, the appointed date was 1st April 2012.” The entire basis of notice, which according to Respondents was issued due to non-filing of income tax return, collapses. In the circumstances, we see no reason to go into further averments made in the petitions or further grounds taken in the petitions. Assessee appeal allowed.
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