The ITAT held that since the income of the amalgamating company...

The ITAT held that since the income of the amalgamating company was included in the amalgamated company's income u/s 199(1) read with Section 198, the credit for TDS and advance tax paid by the amalgamating company should have been allowed to the amalgamated company. As the amalgamating company ceased to exist after amalgamation, with all assets and liabilities transferred to the amalgamated company by NCLT order, the TDS and advance tax credits were to be granted to the amalgamated company. The grounds of appeal regarding denial of such credits were allowed. The ITAT also held that since no income addition was made and only tax credits were disallowed, the appeal against the assessment order u/s 143(3) was valid.