Allowing the petition the Court held that by time of issuance of said reassessment notice, assessee had already merged with another company and thereby lost its legal existence, notice issued in name of assessee became invalid and, therefore, impugned reassessment proceedings deserved to be quashed. ( AY. 2010-11)
ACIT v. Dharmnath Shares & Services (P.) Ltd ( 2018) 94 taxmann.com 458 /(2019) 410 ITR 431 ( Guj) (HC) Editorial: SLP of revenue is dismissed, ACIT v. Dharmnath Shares & Services (P.) Ltd. (2019) 260 Taxman 174/ 409 ITR 4 (St) (SC)
S. 148 : Reassessment–Merged with another company-Notice issued in name of assessee became invalid and quashed [S. 147].