Regulatory consolidation for investment advisers: SEBI issues master circular consolidating guidance and prescribing compliance, reporting, fees and s...
Reopening of assessment cannot rest solely on an audit party's opinion; reassessment under Section 147/148 is impermissible and power of revision shou...
Page of 4811
Press 'Enter' after typing page number.
6121 to 6140 of 96208 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Assessment proceedings and consequent demand and penalty notices issued in the name of an amalgamating/transferor company are void once a court-sanctioned scheme of amalgamation has taken effect because the transferor ceases to exist; continuing proceedings in the name of the dissolved entity therefore involve a jurisdictional error. The High Court applied the principle that proceedings must be in the name of the existing legal entity, relied on prior authoritative decisions (distinguishing contrary facts), and quashed the impugned notices and order while noting the Revenue may initiate fresh proceedings against the amalgamated company if legally entitled.
Assessment proceedings and consequent demand and penalty notices issued in the name of an amalgamating/transferor company are void once a court-sanctioned scheme of amalgamation has taken effect because the transferor ceases to exist; continuing proceedings in the name of the dissolved entity therefore involve a jurisdictional error. The High Court applied the principle that proceedings must be in the name of the existing legal entity, relied on prior authoritative decisions (distinguishing contrary facts), and quashed the impugned notices and order while noting the Revenue may initiate fresh proceedings against the amalgamated company if legally entitled.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
