Dismissing the appeal of the revenue the Court held that ;in the present case, the revenue despite being intimated did not complete the assessment in a composite manner in the hands of transferee company , however completed the assessment in respect of an entity which was not in existence . Accordingly the Tribunal was right in holding that the assessment order was nullity. (AY. 2012-13)
PCIT v. BMA Capfin Ltd. (2018) 100 taxmann.com 329 / (2019) 260 Taxman 90 (Delhi) (HC) Editorial : SLP of revenue is dismissed; PCIT v. BMA Capfin Ltd. (2019) 260 Taxman 89 (SC)
S. 143(3) : Assessment–Merger–Amalgamation-Assessment order in repect of an entity which was not in existence – Held to be nullity. [S. 127, 292BB]