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The High Court quashed the reassessment proceedings initiated against the non-existent amalgamating company. Relying on the Supreme Court's decision in Maruti Suzuki India Ltd. and the Bombay High Court's judgment in Teleperformance Global Services Private Limited, the court held that once the amalgamating company ceased to exist due to the amalgamation scheme approved by the NCLT, the assessing officer lacked jurisdiction to proceed against a non-existent entity. Consequently, the impugned action u/s 148 of the Income Tax Act and the resultant assessment order were declared wholly without jurisdiction, non-est, and a nullity.
The High Court quashed the reassessment proceedings initiated against the non-existent amalgamating company. Relying on the Supreme Court's decision in Maruti Suzuki India Ltd. and the Bombay High Court's judgment in Teleperformance Global Services Private Limited, the court held that once the amalgamating company ceased to exist due to the amalgamation scheme approved by the NCLT, the assessing officer lacked jurisdiction to proceed against a non-existent entity. Consequently, the impugned action u/s 148 of the Income Tax Act and the resultant assessment order were declared wholly without jurisdiction, non-est, and a nullity.
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