Allowing the petition the Court held the notice under section\u00a0148\u00a0of the Act dated December 13, 2017 was issued in the name of the amalgamating company instead of the new company. Further, the Assessing Officer after examining threadbare the various issues including the issues as to the keyman insurance premium and disallowance under section\u00a014A\u00a0of the Act, took a view not to make any disallowance in respect of the keyman insurance premium while framing assessment under section\u00a0143(3)\u00a0of the Act and made a disallowance under section\u00a014A\u00a0of the Act. It was therefore, apparent that there was a change of opinion by the Assessing Officer to reopen the assessment for the assessment year 2013-14, more particularly, when the issues raised in the reopening assessment were already considered during the assessment proceedings under section\u00a0143(3)\u00a0of the Act. The Assessing Officer did not have jurisdiction to issue the notice under section\u00a0148\u00a0of the Act, for reopening the assessment for more particularly, when the assessment was sought to be reopened beyond a period of four years.\u00a0 Accordingly, the notice of reassessment and order disposing of the objection was quashed. (AY.2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 147 : Reassessment-After the expiry of four years-Amalgamation-Notice of reassessment issued in name of amalgamating company instead of a new company-Reassessment notice and order disposing of the objection was quashed. [S. 148, Art. 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-33490","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8Ia","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/33490","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=33490"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/33490\/revisions"}],"predecessor-version":[{"id":38018,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/33490\/revisions\/38018"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=33490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=33490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=33490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}