https://www.taxtmi.com/caselaws?id=432791 The court ruled in favor of the petitioner, a Multi-State Scheduled Cooperative Bank, in a challenge against a notice under section 148 of the Income Tax Act, 1961, seeking to reassess the income of an entity merged with the petitioner. The court agreed with the petitioner's argument that notices issued to entities that no longer exist post-merger are illegal and without jurisdiction. Citing legal precedents, including the Maruti Suzuki India Ltd. and Gayatri Microns Ltd. cases, the court quashed the notices and granted relief by setting them aside with all consequential reliefs. en-us Sat, 07 Jan 2023 00:00:00 +0530 Mon, 27 Feb 2023 10:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432791 The court ruled in favor of the petitioner, a Multi-State Scheduled Cooperative Bank, in a challenge against a notice under section 148 of the Income Tax Act, 1961, seeking to reassess the income of an entity merged with the petitioner. The court agreed with the petitioner's argument that notices issued to entities that no longer exist post-merger are illegal and without jurisdiction. Citing legal precedents, including the Maruti Suzuki India Ltd. and Gayatri Microns Ltd. cases, the court quashed the notices and granted relief by setting them aside with all consequential reliefs. Case-Laws Income Tax Sat, 07 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432791