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TMI Blog2017 (9) TMI 1462X X X X Extracts X X X X X X X X Extracts X X X X ..... of delay stating that the delay has occurred due to the delay in obtaining the records of the case including the grounds of appeal filed by the assessee company before the CIT(A)-55, Mumbai. Taking the same into consideration and being satisfied with the reasons given in the application, we condone the delay of 12 days and proceed to dispose of the appeal as under. 3. Brief facts of the case are that the assessee company previously known as Merrill Lynch India Technology Services Pvt. Ltd. filed its return of income for the A.Y 2009-10 on 27.09.2009. During the assessment proceedings u/s 143(3) of the IT Act, the A.O observed that the assessee had entered into various international transactions with its AE's. Therefore the determination of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted the f act that facts in the case of M/s. Saraswati Industrial Syndicate Ltd are not applicable to the facts of the present case; 2. In the f acts and circumstances of the case, the Ld. CIT(A) erred in ruling that the amalgamating company is non-existent as on the date of passing of the assessment order without appreciating the f act that the order pertains to F.Y 2008-09 and the amalgamation took effect f rom 01-04-2009." 5. According to the Ld. DR, the assessee company got merged with M/s B.A. Continuum India Private Limited only w.e.f 01.04.2009 and therefore it existed during the relevant FY 2008-09, and has even filed the return of income in its original name only. He submitted that the notices u/s 142(1) and 143(2) of the IT Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A) and also placed reliance upon various judicial precedents on the issue. He has also drawn our attention to the letters written by the assessee to the A.O as well as CIT intimating the factum of amalgamation and nonexistence of the assessee company post-merger. He also drew our attention to the TP order dated 29.01.2013, which is in the name of the amalgamating company. 8. Having regard to the rival contentions and the material placed on record, we find that the relevant financial year before us is 2008-09 and the assessment year is 2009-10. The assessee M/s Merrill Lynch India Technology Services Private Limited, filed its return of income on 27-09-2009, while notice u/s 143(2) of the Act was issued on 19-08-2010. The A.O made a referen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntinuum India Private Limited. The PAN No. of M/s B.A. Continuum India Private Limited-AACCC2310C was also given. In spite of all these communications, the TPO has still passed the TP order in the name of M/s Merrill Lynch India Technology Services Pvt Ltd with PAN No. AAECM0854D, but the draft as well as final assessment orders have been passed in the name of the amalgamated company. Form No. 35 is also filed in the name of the amalgamated company with the PAN No. AACCC2310C and a specific ground about passing of assessment order in the name of Merrill Lynch India Technology Services Pvt. Ltd., a non-existing entity was taken. The CIT(A), has therefore, held that the assessment in the name of a non-existing company is not sustainable and d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the amalgamating company is only to differentiate between the amalgamated and amalgamating companies. Therefore, we see no reason to interfere with the order of the CIT(A) and the assessee's ground of appeal No.1 is thus rejected." 9. In the case before us also, the assessment order has been passed by the A.O, Mumbai, having jurisdiction over the amalgamated company and the mention of the PAN no. of the merged company is only to differentiate between the amalgamated and amalgamating companies for the period when both of them were in existence. Therefore, we are not in agreement with the order of the CIT(A) that the assessment has been done in the name of a non-existing company. Therefore, we set it aside. The Revenue's appeal is accord ..... X X X X Extracts X X X X X X X X Extracts X X X X
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