https://www.taxtmi.com/caselaws?id=762176 The HC quashed reassessment proceedings against an amalgamated company for AY 2018-19. The court held that the AO erroneously assumed jurisdiction under sections 147/148/148A as the amalgamating company had dissolved on March 30, 2018, and could not file returns for AY 2018-19. Only the amalgamated company was required to file returns, which it did. The consolidated accounts were properly filed and assessed under section 143(3). The court found violations of natural justice principles as no effective hearing was granted despite requests. Additionally, the notice under section 148 issued on April 19, 2022, was barred by limitation as the statutory period expired on April 6, 2022. The proceedings were conducted arbitrarily and in excess of jurisdiction. en-us Thu, 21 Nov 2024 00:00:00 +0530 Tue, 26 Nov 2024 08:52:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762176 The HC quashed reassessment proceedings against an amalgamated company for AY 2018-19. The court held that the AO erroneously assumed jurisdiction under sections 147/148/148A as the amalgamating company had dissolved on March 30, 2018, and could not file returns for AY 2018-19. Only the amalgamated company was required to file returns, which it did. The consolidated accounts were properly filed and assessed under section 143(3). The court found violations of natural justice principles as no effective hearing was granted despite requests. Additionally, the notice under section 148 issued on April 19, 2022, was barred by limitation as the statutory period expired on April 6, 2022. The proceedings were conducted arbitrarily and in excess of jurisdiction. Case-Laws Income Tax Thu, 21 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762176