2018 (5) TMI 1369

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....No. 22605 of 2017 With R/SPECIAL CIVIL APPLICATION No. 22609 of 2017 With R/SPECIAL CIVIL APPLICATION No. 22621 of 2017 - -<br>Income Tax<br>MR. AKIL KURESHI AND MR. B.N. KARIA, JJ. For The Petitioner : Mr SN Divatia For The : DS Aff.Not Filed (N), Mrs Mauna M Bhatt And Notice Served By DS COMMON JUDGMENT (PER : HONOURABLE Mr. JUSTICE AKIL KURESHI) These petitions, though filed by d....

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....me-tax Act, 1961 ["the Act" for short] in case of Barter group of companies and persons revealing large scale scam of providing accommodation entries. In many cases, it was found that the funds received by the companies in the form of share capital was not genuine, one of them being Dharmanath Share & Services Private Limited [hereinafter referred to as, "the Dharmanath"]. The Assessing Officer no....

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....malgamated with Dharmanath Share & Services Private Limited by a judgment of this Court dated 4th May 2012 with effect from 1st April 2010. Since amalgamation, the company had no legal existence. Notice of reopening, therefore, could not have been issued to such a company. [ii] M/s. Dharmanath Share & Services Private Limited was subjected to assessment under Section 153 [C] of the Act in....

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....r was passed on 4th May 2012, the effective date of amalgamation was 1st April 2010. Division Bench of this Court in case of Khurana Engineering Limited v. Deputy Commissioner of Income Tax, reported in [2014] 364 ITR 600 [Guj.] had held that once the assessee company had amalgamated with the transferee company, its independent existence did not survive, and therefore, would no longer be amenable ....