TaxTMI 
TaxTMI 
2018 (5) TMI 740
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.... alongwith its sub-grounds, the assessee has challenged the jurisdiction of the Assessing Officer stating that the AO has wrongly assumed jurisdiction and further erred in framing assessment on an entity in whose name jurisdiction was assumed which did not exist. Vide the other grounds, the assessee has challenged the disallowances made in the assessment order. 3. The brief facts of the case are that the assessee is engaged in the business of trading of shares and building material items. The return of income for the year under consideration was filed on 10.09.2013 declaring loss of Rs. 1,49,48,864/-. The return was selected for scrutiny and accordingly, statutory notice was issued u/s 143(2) of the Income-tax Act, 1961 [hereinafter referr....
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....nd that appellant company did not exist either when the return was filed electronically on 10.09.2013, or when notice u/s 143(2) dated 05.09.2014 was issued or even after when notice u/s 143(1) was issued and Shri K.C. Garg, CA and Authorized Representative of the assessee company attended before the assessing officer and filed part details. The assessment order was passed u/s 143(3) op. 07.03.2016 in the name of appellant i.e. M/s Rudraksha Agencies Company Ltd. with address 370 Near Shiv Mandir, Main Market, Badarpur, Delhi-1 10044. Nowhere m the submissions filed by the AR of the assessee before the assessing officer was there any mention, of merger of Assessee Company with any other company. Even the part submission filed by the advocat....
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....#39;ble High Court of Delhi has sanctioned the Scheme of Amalgamation in respect of 8 transferors companies in which the assessee company is also a party as transferor company No. 4. This order of the Hon'ble High Court is exhibited at pages 8 to 17 of the assessee's paper book. In the said order of the Hon'ble High Court, at clause No. 13, the Hon'ble High Court mentions that: "The Regional Director states that despite notice, the Income tax authorities have not raised any objection with regard to the scheme." 9. Exhibit 7 is copy of letter filed by the assessee with the office of the Deputy Commissioner, Income tax, Circle 21(2) dated 17.06.2015 by which the assessee has brought to the notice of the Deputy Commissioner tha....
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....ecause the facts are identical. In the above mentioned case notice under Section 143(2) of the Act was sent to the company which was not in existence on the date of the issue of notice. Similarly in the case of the assessee notice under Section 153C was issued in the name of M/s Image Credit and Portfolio Pvt. Ltd. on 10th September,2010 when this company was not in existence. Therefore, the ratio of the decision of Hon'ble Jurisdictional High Court in the case of M/s Spice Entertainment Ltd. (supra) would be squarely applicable to the issue of notice under Section 153C in the case of the assessee. Whether the assessee intimated about the amalgamation before the issue of notice under Section 153C or not would not be relevant for deciding th....