2015 (7) TMI 1015

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....see company M/s Karamchand Appliances Pvt.Ltd. (hereinafter called KAPL) amalgamated with the assessee company S.C.Johnson Products Private Ltd. (hereinafter known as SGAPPL) w.e.f. 1st June, 2005. A scheme of amalgamation was filed before the Hon'ble Delhi High Court and this was duly approved u/s 391 and 394 of the Companies Act, 1956 vide order dt. 09th October, 2006. This was duly filed before the Registrar of Companies. 2.1. The erstwhile company M/s KAPL filed a return of income on 30.11.2006 declaring income of Rs. 2,28,62,335/-. During the course of assessment proceedings it was brought to the notice of the A.O. by the assessee vide letter dt. 15th January, 2007 that the amalgamation of KAPL with the assessee company was wef 1st ....

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....wo judgements of the Jurisdictional High Court and submitted that the issue is no more res integra and that no assessment can be framed on non existing amalgamating company, i.e. judgement dt. 3rd August, 2011 in the case of Spice Entertainment Ltd. Vs. CST in ITA 475 and 476/Del/2011  and CIT vs. M/s Micron Steels Ltd. in ITA nos. 19 to 24/2014 judgement dt. 11th Feb., 2015 . 5. Ld.CIT, D.R. Shri Ramesh Chandra on the other hand submitted that (a) the decision of Hon'ble Delhi High Court in the case of CIT vs. M/s Micron Steels Ltd. (supra) is not a binding precedent for the reason the Hon'ble Delhi High Court held that no substantial question of law arises which means that the Hon'ble High Court has come to a conclusion that it do....

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....on the following decisions of the Tribunal and submitted that all the contentions raised by the assessee were answered by the Tribunal in these decision. (i) ITA 447/Del/2004 "D" Bench HCL Corporation Ltd. (for and on behalf of Vama Sundari Investment P.Ltd. vs. ACIT order dt. 7.8.2014  (ii) ITA 5874 to 5878/Del/13 and other appeals in the case of M/s Computer Engineering Services P.Ltd. vs. ACIT B Bench order dt. 29.5.2015  6. The Ld.CIT,DR for the Revenue joining the issue submitted that his detailed written arguments were not considered by the Bench in the case of M/s Computer Engineering Services P.Ltd. and hence that decision should not be taken as a binding precedent. 7. The Ld.Sr.D.R. Sri BRR Kumar, on the other....

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....ther on the facts and in the circumstances of the case, the Tribunal erred in law in holding that in view of the provisions of s.292B of the Act, the assessment, having in substance and effect, been framed on the amalgamated company which could not be regarded as null and void? We may, however, point out that the returns were filed by M/s Spice on the day when it was in existence it would be permissible to carry out the assessment on the basis of those returns after taking the proceedings afresh from the stage of issuance of notice u/s 143(2) of the Act. In these circumstances, it would be incumbent upon the AO to first substitute the name of the appellant in place of M/s Spice and then issue notice to the appellant. However, such a cour....