2022 (4) TMI 1464

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....39;BLE ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, HON'BLE JUDICIAL MEMBER For the Assessee : Shri P.J. Paridiwala For the Department : Shri Jasbir Chowhan ORDER PER S. RIFAUR RAHMAN (AM) 1. These appeals are filed by the assessee and revenue against order of the Learned Commissioner of Income Tax (Appeals)-5, Mumbai [hereinafter in short "Ld.CIT(A)"] dated 26.02.2019 for the A.Y.2016-17. ....

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....ntly this case was selected for scrutiny and statutory notice u/s. 143(2) were issued and served on the assessee. Ld.AR brought to our notice that even though Assessing Officer has observed that State Bank of Bikaner and Jaipur is merged with M/s. State Bank of India still he passed an order in the name of the non existing entity. In this regard he relied on the decision of the Hon'ble Supreme....

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....e income of the erstwhile entity (S) prior to amalgamation. The consequence of the scheme of amalgamation approved under section 394 of the Companies Act, 1956 was that the amalgamating company ceased to exist. It could not thereafter be regarded as a person under section 2(31) of the Act against which assessment proceedings could be initiated or an order of assessment. Notice under section 143(2)....