2023 (6) TMI 1293

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.... ('the Act') relevant to the assessment year 2016-17 primarily on the ground that the same was issued in the name of Times Infotainment Media Ltd. which is a non-existent entity. 2. Briefly stated the material facts are as under : The case set up by the petitioner is that Times Infotainment Media Ltd. ("TIML") was a wholly owned subsidiary of the petitioner, i.e., Bennett Coleman and Company Ltd., which was engaged inter-alia in the business of Private FM Radio Broadcasting investment and intellectual property rights (IPR) activities. It is stated that with a view to consolidate the business of operations of the group companies and on account of various commercial reasons, a scheme of amalgamation and arrangement was formulated for merge....

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.... the meaning of section 147 of the Act. In response to the said notice, the petitioner is stated to have fled its objections as also brought to the notice of the Assessing Officer regarding the factum of amalgamation of TIML with the petitioner-company despite which the Assessing Officer continued with the proceedings and issued notice under section 142(1) of the Act directing the petitioner to furnish the accounts, documents and information mentioned in the said notices. 5. It is in the backdrop of the aforementioned facts that learned counsel for the petitioner urged that the issuance of notice the impugned under section 148 against a non-existent entity was non-est and void ab-initio in the light of the ratio of the judgment of the Apex....