TaxTMI 
TaxTMI 
2023 (5) TMI 1326
X X X X Extracts X X X X
X X X X Extracts X X X X
....ommissioner of Income Tax, Circle 3(4), Mumbai (the learned Assessing Officer) dated 31st March, 2021, under Section 154 of the Income-tax Act, 1961 (the Act), was allowed. 02. The learned Assessing Officer is aggrieved with that appellate order and has raised following grounds of appeal:- "(i) "Whether in the facts and in the circumstances of the case and in law, the Ld. CITA) erred in allowing the appeal of the assessee holding that the assessing Officer passed the rectification order u/s 154 in the name of the non-existing entity ignoring the fact that the assessing office has mentioned the name of existing entity as successor to erstwhile non existing assessee while passing the order passed u/s 154 of Act dated 31.03.2021 as well as ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....essing Officer issued the notice under Section 154 of the Act in the name of erstwhile United Western Bank Ltd., proposing to reduce the deduction already allowed. The learned Assessing Officer passed an order under Section 154 of the Act on 31st March, 2021, in the name of the United Western Bank Ltd. By such order the learned Assessing Officer revised the total loss of the assessee at Rs.11.42 crores. 04. Against that order the assessee challenged in a appeal before the learned CIT (A) holding that the entire rectification proceeding's and rectification orders is passed on a non-existent entity, therefore, same is invalid. The reduction of deduction was also challenged. The learned CIT (A) as per the appellate order dated 6th September, ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....tion the business of the transferee company survives. Therefore, the learned CIT (A) is not correct in quashing the rectification order. 07. The learned Authorised Representative referred to his submission reproduced by the learned CIT (A) at paragraph no.3 and also the finding given in paragraph no.4. he submits that the CIT (A) has followed the decision of Hon'ble jurisdictional High Court and the Hon'ble Supreme Court. He submits that the decision cited by the learned Departmental Representative of Mahagun Realtors (P.) Ltd. (supra) does not apply to the facts of the case for the reason that the learned Assessing Officer was aware about the business reorganization. 08. We have carefully considered the rival contentions and peru....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ences by ACIT, (LTU)- 2, Mumbai to ITO (HQ.), LTU, Mumbai for transfer of PAN AABCT0177D in the case of M/s. United Western Bank Ltd. Further, a letter was written by CIT (LTU), Mumbai to PCIT-3, Pune regarding migration of PAN in the case of M/s. United Western Bank Ltd. to ACIT(LTU), Mumbai on 12.08.2015. Further, letter dated 27.08.2010 of DCIT, Satara written to ACIT, LTU, Mumbai with subject "Transfer of case records of United Western Bank Ltd., Satara (Now amalgamated with IDBI Bank)" is also submitted by the appellant during the course of appellate proceedings. Hence, appellant contended that AO was fully well aware that the entity M/s. United Western Bank Ltd. was not in existence on the date of passing of impugned order u/s 154 dat....
X X X X Extracts X X X X
X X X X Extracts X X X X
....hat appellant has discharged his onus by duly disclosing the fact of merger of M/s. United Western Bank Ltd. with IDBI Bank Ltd. to all concerned including the AO. However, AO has ignored this fact and passed the rectification order u/s 154 in the name of M/s. United Western Bank Ltd. a non existing entity. The case laws relied upon by the appellant is fully applicable in the case of appellant including the decision of Hon'ble Supreme Court in the case of Principal Commissioner of Income Tax, New Delhi v. Maruti Suzuki India Ltd. [2019] 107 taxmann.com 375 (SC) wherein, it has been held that assessment order passed in the name of non-existing amalgamating entity would be without jurisdiction and is to be set aside. Further, Hon'ble Supreme ....