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HC held that its earlier order setting aside assessments on the amalgamating, non-existent company did not contain any "finding" or "direction" within the meaning of s.153(6) of the Act. The prior order merely applied the ratio of Maruti Suzuki to quash assessments on a non-existent entity and clarified that fresh proceedings, if any, could be initiated against the amalgamated transferee in accordance with law, which did not amount to a binding direction. Consequently, the extended limitation under s.153(6) was inapplicable. The impugned assessment framed against the transferee company for A.Y. 2007-08 was therefore held to be time-barred under s.153(1), and stood quashed, with the Revenue's contentions rejected.
HC held that its earlier order setting aside assessments on the amalgamating, non-existent company did not contain any "finding" or "direction" within the meaning of s.153(6) of the Act. The prior order merely applied the ratio of Maruti Suzuki to quash assessments on a non-existent entity and clarified that fresh proceedings, if any, could be initiated against the amalgamated transferee in accordance with law, which did not amount to a binding direction. Consequently, the extended limitation under s.153(6) was inapplicable. The impugned assessment framed against the transferee company for A.Y. 2007-08 was therefore held to be time-barred under s.153(1), and stood quashed, with the Revenue's contentions rejected.
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