https://www.taxtmi.com/highlights?id=77174 Reopening of assessment u/s 147 against non-existing entity - scheme of the amalgamation and arrangement approved - The High Court acknowledges the petitioner's argument regarding the issuance of notices and assessment orders to a non-existent entity. It finds that the reassessment orders and notices cannot be sustained due to this fundamental flaw. As a result, the court quashes and sets aside the reassessment orders and notices. - The court observes that the reassessment orders failed to consider the legal consequences of the approved scheme of amalgamation and arrangement. - Consequently, the court quashed and set aside the reassessment orders and notices. en-us Mon, 06 May 2024 16:46:00 +0530 Mon, 06 May 2024 16:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=77174 Reopening of assessment u/s 147 against non-existing entity - scheme of the amalgamation and arrangement approved - The High Court acknowledges the petitioner's argument regarding the issuance of notices and assessment orders to a non-existent entity. It finds that the reassessment orders and notices cannot be sustained due to this fundamental flaw. As a result, the court quashes and sets aside the reassessment orders and notices. - The court observes that the reassessment orders failed to consider the legal consequences of the approved scheme of amalgamation and arrangement. - Consequently, the court quashed and set aside the reassessment orders and notices. Highlights Income Tax Mon, 06 May 2024 16:46:00 +0530 https://www.taxtmi.com/highlights?id=77174