| Court: | ITAT Pune |
| Head Notes: | If the factum of amalgamation was brought to notice of the Assessing Officer and if despite this fact, the Assessing Officer passed the assessment order in the name of amalgamating company, the assessment order is null and void. Once the scheme of amalgamation comes into effect, the amalgamating company ceases to exist and an assessment order passed in the name of amalgamating company is null and void and ab initio, as decided by the Hon’ble Supreme Court in the case of PCIT vs. Maruti Suzuki India Ltd. 416 ITR 613 (SC). The ratio of the decision of the Hon’ble Supreme Court in the case of PCIT vs. Mahagun Realtors (P.) Ltd., 443 ITR 194 (SC) has no application, inasmuch as, the decision of the Hon’ble Supreme Court (supra) is on premise that the factum of amalgamation was never brought to the notice of the Assessing Officer and the return of income was not revised even though, time was available for revision of the return of income and the return of income was filed pursuant to notice which was issued after amalgamation suppressing the factum of amalgamation |
| Law: | Income-Tax Act |
| Section(s): | 143(3) |
| Counsel(s): | Revenue by : Shri J. P. Chandraker Assessee by : Shri Percy Pardiwalla & Shri Hiten Chande |
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| Uploaded By | Mukesh |
| Date of upload: | January 9, 2023 |
Normally the high court approves the amalgamation where the scheme for amalgamation is sanctioned. The scheme in all the possibilities provides that amalgamated company that is transferee company undertakes all the existing liability of amalgamating or transferor company. Therefore it is incorrect to say the company ceased to exist. It exist in new name.