TaxTMI 
TaxTMI 
2018 (5) TMI 1369
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....017 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 different petitioners, arise in the common factual background. We may noti....
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....es 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 noted that the petitioner company had merged with the said Dharmanath. Befo....
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....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 which entire transactions; including the commission amount, have been taxed. The same ca....
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....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 to assessment proceedings. For such purpose, the Court had quashed the notice on the company which h....