https://www.taxtmi.com/caselaws?id=777001 HC dismissed the petition and upheld reopening under section 147. The court found the merger scheme was applied from 01.04.2018 but final NCLT approval was on 13.11.2020, and the petitioner's PAN remained active with financial transactions of Rs. 11,64,12,993 in AY 2020-21 that escaped tax. The transferee showed nil income and was accepted on procedural NCLT directions, but the transferor (petitioner) continued business during the merger process. Reopening was therefore valid and the petition was rejected. en-us Thu, 07 Aug 2025 00:00:00 +0530 Fri, 22 Aug 2025 08:33:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777001 HC dismissed the petition and upheld reopening under section 147. The court found the merger scheme was applied from 01.04.2018 but final NCLT approval was on 13.11.2020, and the petitioner's PAN remained active with financial transactions of Rs. 11,64,12,993 in AY 2020-21 that escaped tax. The transferee showed nil income and was accepted on procedural NCLT directions, but the transferor (petitioner) continued business during the merger process. Reopening was therefore valid and the petition was rejected. Case-Laws Income Tax Thu, 07 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777001