2000 (12) TMI 48

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.....J.--These two reference applications involve identical issues and are, therefore, disposed of by this common judgment. On being moved by the Revenue, the Income-tax Appellate Tribunal, Delhi Bench-C (in short "the Tribunal"), has referred under section 256(1) of the Income-tax Act, 1961 (in short "the Act"), the following question for the opinion of this court: "Whether, on the facts and in....

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....it was provided that the merged company shall, on the specified date, stand dissolved without winding up. In view of this Bharat General Re-insurance Limited stood dissolved with effect from January 1, 1974. The Income-tax Officer (in short "the ITO") completed the assessment on the assessee in its capacity as successor of Bharat General Re-insurance Limited under the Companies (Profits) Surtax Ac....