https://www.taxtmi.com/caselaws?id=423290 The court set aside the assessment order and demand notice issued under the Income Tax Act, 1961 for the Assessment Year 2016-17, amounting to Rs.8,58,76,140, due to jurisdictional issues and the existence of the assessed entity. The court directed the assessing officer to reconsider the matter and pass a fresh reasoned order within twelve weeks, emphasizing the entity's merger with the petitioner and dissolution, lack of separate audited financials or income for the relevant Financial Year, and pending reassessment proceedings by the jurisdictional assessing officer. The court noted the necessity for the assessing officer to consider all submissions and contentions in accordance with the law. en-us Tue, 31 May 2022 00:00:00 +0530 Fri, 03 Jun 2022 08:28:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423290 The court set aside the assessment order and demand notice issued under the Income Tax Act, 1961 for the Assessment Year 2016-17, amounting to Rs.8,58,76,140, due to jurisdictional issues and the existence of the assessed entity. The court directed the assessing officer to reconsider the matter and pass a fresh reasoned order within twelve weeks, emphasizing the entity's merger with the petitioner and dissolution, lack of separate audited financials or income for the relevant Financial Year, and pending reassessment proceedings by the jurisdictional assessing officer. The court noted the necessity for the assessing officer to consider all submissions and contentions in accordance with the law. Case-Laws Income Tax Tue, 31 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423290