TaxTMI 
TaxTMI 
2013 (3) TMI 436
X X X X Extracts X X X X
X X X X Extracts X X X X
....issioner of Income Tax (A)'s order has been questioned by the parties on a common grounds of the respective appeals/ cross objections. 3. The Revenue has questioned the first appellate order on the following common grounds in its appeals :- i) That the Ld. Commissioner of Income Tax (A) erred in law and on facts of the case in upholding the assessment on a company which has been dissolved / amalgamated under section 391 and 394 of the Companies Act, 1956 is invalid. ii) That the Ld. Commissioner of Income Tax (A) erred in law and on facts of the case in deleting the addition of Rs. 37,87,094/- made on account of unexplained purchase u/s. 69C of the I.T. Act. iii) That the Ld. Commissioner of Income Tax (A) erred in law and on fa....
X X X X Extracts X X X X
X X X X Extracts X X X X
....id satisfaction note were duly reflected in the regular books of account and no incriminating material was found. Hence, the notice issued u/s. 153C is illegal, bad in law and without jurisdiction. iv) That in view of the facts and circumstances of the case the Ld. Commissioner of Income Tax (A) has barred on facts and in law in holding that the assessment has been framed in conformity with statutory provision of Section 153C r/w section 153A of the Act. v) That in view of the facts and circumstances of the case the Ld. Commissioner of Income Tax (A) has erred in facts and on law in upholding the validity of assessment particularly when the seized document were handed over to the Assessing Officer who framed the assessment and the add....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e same the status of the assessee company was mentioned as "amalgamated" meaning thereby dissolved. Accordingly, it was an admitted position that the assessee company M/s Micron Steels Pvt. Ltd. stood dissolved on amalgamation with M/s Lakhanpla Infrastructure Pvt. Ltd. That it was an admitted fact that after filing the return of income for the relevant assessment year, under protest, the assessee company informed to the Assessing Officer about the fact of the amalgamation vide its letter filed in response to notice u/s. 143(2) and u/s. 142(1) of the I.T. Act, 1961. That it was also noted that the Assessing Officer in his report had admitted the fact that the assessee company M/s Micron Steels Pvt. Ltd. was amalgamated during the asstt. yea....
X X X X Extracts X X X X
X X X X Extracts X X X X
....Considering the above, Ld. Commissioner of Income Tax (A) held that in view of the decision of the Courts and Tribunal particularly the Hon'ble Jurisdictional High Court and Tribunal as discussed above, he agreed with the assessee that the assessment on a company which has been dissolved /amalgamated u/s 391 & 394 of the Companies Act, 1956 is invalid. He observed that there is no provision of the I.T. Act to make the assessment on an amalgamating company / transfer or dissolved company. Even though the assessee company participated in the assessment proceedings. Ld. Commissioner of Income Tax (A) concluded that the assessee company stood dissolved on 19.2.2010 on amalgamation with M/s Lakhanpal Infrastructure Pvt. Ltd. and in view of this ....