Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Assessment order passed against a non-existent entity due to merger of companies is invalid. The assessment order was passed in the name of Genpact India, which had already merged with Genpact India Private Limited. As per Section 394 of the Companies Act, 1956, upon merger, the amalgamating company ceases to exist and cannot be regarded as a 'person' u/s 2(31) of the Income Tax Act, 1961, against whom assessment proceedings can be initiated or an order passed. Issuing an assessment order in the name of a non-existent entity is not a procedural irregularity curable u/s 292B. The Appellate Tribunal upheld the assessee's contention and decided in its favor.
Assessment order passed against a non-existent entity due to merger of companies is invalid. The assessment order was passed in the name of Genpact India, which had already merged with Genpact India Private Limited. As per Section 394 of the Companies Act, 1956, upon merger, the amalgamating company ceases to exist and cannot be regarded as a 'person' u/s 2(31) of the Income Tax Act, 1961, against whom assessment proceedings can be initiated or an order passed. Issuing an assessment order in the name of a non-existent entity is not a procedural irregularity curable u/s 292B. The Appellate Tribunal upheld the assessee's contention and decided in its favor.
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