https://www.taxtmi.com/caselaws?id=59298 Approved amalgamation does not trigger tax on the difference between book value and realisable value of stock-in-trade or work-in-progress where the business continues and is not terminated on the closing date; the revaluation surplus was therefore not taxable in the hands of the amalgamating companies. Reassessment under section 147(a) also failed because the Assessing Officer already knew of the amalgamation, the assessee had disclosed the sanctioned scheme, and omission of the valuation report did not amount to suppression of primary facts. A notice issued to a company that had ceased to exist after amalgamation was jurisdictionally void and could not be cured. en-us Fri, 17 May 1991 00:00:00 +0530 Thu, 03 Nov 2016 10:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59298 Approved amalgamation does not trigger tax on the difference between book value and realisable value of stock-in-trade or work-in-progress where the business continues and is not terminated on the closing date; the revaluation surplus was therefore not taxable in the hands of the amalgamating companies. Reassessment under section 147(a) also failed because the Assessing Officer already knew of the amalgamation, the assessee had disclosed the sanctioned scheme, and omission of the valuation report did not amount to suppression of primary facts. A notice issued to a company that had ceased to exist after amalgamation was jurisdictionally void and could not be cured. Case-Laws Income Tax Fri, 17 May 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59298