Held that corporate entity stood merged in the transferee company, i. e., the assessee, with effect from April 1, 2014, i. e., with effect from the “previous year” 2014-15 as would relate to the assessment year 2015-16. The assessing authority of the transferor company had proceeded to issue the reassessment notice without examining the record of that assessee and without taking note of the event of merger and the subsequent order dated December 30, 2017 passed in the case of the merged entity, i. e., the assessee. Since inherent jurisdiction was lacking and the order had been passed without opportunity of hearing granted to the assessee, the order dated March 29, 2022 was not valid. Referred, PCIT v. Mahagun Realtors (P) Ltd (2022) 443 ITR 194 (SC) (AY.2015-16)