https://www.taxtmi.com/caselaws?id=407112 The court upheld the validity of a notice issued under Section 147 of the Income Tax Act to a nonexisting entity, emphasizing successor liability under Section 170(ii) despite the predecessor's nonexistence. The court dismissed the petitioner's challenge, noting the continuity of operations post-merger and the company's address change communication. The dispute over alleged income escapement from unreported mutual fund purchases led to the court directing the petitioner to participate in reassessment proceedings as per the Income Tax Act, rejecting claims of factual inaccuracies in the reasons for reopening assessment. en-us Mon, 26 Apr 2021 00:00:00 +0530 Fri, 02 Jul 2021 15:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407112 The court upheld the validity of a notice issued under Section 147 of the Income Tax Act to a nonexisting entity, emphasizing successor liability under Section 170(ii) despite the predecessor's nonexistence. The court dismissed the petitioner's challenge, noting the continuity of operations post-merger and the company's address change communication. The dispute over alleged income escapement from unreported mutual fund purchases led to the court directing the petitioner to participate in reassessment proceedings as per the Income Tax Act, rejecting claims of factual inaccuracies in the reasons for reopening assessment. Case-Laws Income Tax Mon, 26 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407112