Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
Insurer's investment gains and investment write-downs face Section 263 revision; enquiry upheld, Rule 5(b)(ii) lapse sustained, late corrigendum quash...
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.
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