https://www.taxtmi.com/article/detailed?id=9907 Upon effectiveness of an approved amalgamation scheme the amalgamating company ceases to exist and its assets and liabilities vest in the transferee; consequently tax liabilities transfer to the transferee and the transferor cannot be validly assessed after the effective date. Assessments or notices issued in the name of a non existing transferor constitute a jurisdictional defect and substantive illegality rather than a mere procedural irregularity. Administrative records must be updated to substitute the transferee and taxpayers should notify the department to avoid invalid proceedings and litigation. en-us Tue, 20 Jul 2021 10:38:18 +0530 Tue, 20 Jul 2021 10:38:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9907 Upon effectiveness of an approved amalgamation scheme the amalgamating company ceases to exist and its assets and liabilities vest in the transferee; consequently tax liabilities transfer to the transferee and the transferor cannot be validly assessed after the effective date. Assessments or notices issued in the name of a non existing transferor constitute a jurisdictional defect and substantive illegality rather than a mere procedural irregularity. Administrative records must be updated to substitute the transferee and taxpayers should notify the department to avoid invalid proceedings and litigation. Articles Corporate Laws / IBC / SEBI Tue, 20 Jul 2021 10:38:18 +0530 https://www.taxtmi.com/article/detailed?id=9907