TaxTMI 
TaxTMI 
2023 (8) TMI 148
X X X X Extracts X X X X
X X X X Extracts X X X X
....A No.772/Mum/2022 is filed by the assessee for A.Y. 2017-18 against the assessment order passed by the National Faceless Appeal Centre, Delhi (the learned Assessing Officer) dated 24th February, 2022, wherein the total income of the assessee is assessed at Rs.33,64,46,601/-, as per normal computation of income and book profit under Section 115JB of the Income-tax Act, 1961 (the Act), is assessed at Rs.11,43,53,603/-. The return of income filed by the assessee on 30th November, 2017, is at Rs.9,26,57,190/-. 03. The ground no.1 raised by the assessee is despite intimation to ld AO, Ld. TPO, LD DRP, assessment has been made by the learned Assessing Officer in the name of Emerson Process Management (India) Pvt. Ltd under Section 143(3) read wi....
X X X X Extracts X X X X
X X X X Extracts X X X X
....been passed thereby Pentair Valves and Controls India Private Limited emerged with Emerson Process Management (India) Pvt. Ltd. iii Form No. INC28 [The Companies Act 2013 and Rules there under] in this regard was also filed completing the process of merger of Pentair Valves and Controls India Private Limited with Emerson Process Management (India) Pvt. Ltd. iv On 31st January, 2020, the Addl. Commissioner of Income Tax, Transfer Pricing Officer, Ahmadabad, was intimated about this merger vide Para no.7 of the letter stating that Pentair Valves and Controls India Private Limited has been amalgamated with Emerson Process Management (India) Pvt. Ltd with effect from 1st April, 2019. v On 18th December, 2020, the learned Transfer Pricing ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....Pentair Valves and Controls India Private Limited. xii Based on this, the final assessment order was passed by the learned Assessing Officer in the name of Emerson Process Management (India) Pvt. Ltd on 24th February, 2022. 05. Challenging the above order, the learned Authorized Representative submitted that the draft assessment order, order of the learned Transfer Pricing Officer and the direction of the learned Dispute Resolution Panel were all passed in the name of a non-existing entity and therefore, the final assessment order though passed in the name of correct entity does not survive. The learned Authorized Representative referred to his paper book containing 86 pages on this issue. 06. The learned Departmental Representative veh....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ssment order are passed in the name of non-existing entity. Despite above facts available, before the learned Dispute Resolution Panel on 18th January, 2022, the learned Dispute Resolution Panel also passed its direction in the name of Pentair Valves and Controls India Private Limited. Undisputedly, the learned Assessing Officer passed the final assessment order on 24th February, 2022, in the name of Emerson Process Management (India) Pvt. Ltd. Therefore, the final assessment order is passed in the name of an existing entity. But the final assessment order was based on invalid Transfer pricing order, Draft assessment order and Direction of Dispute Resolution panel all passed in the name of non-existing entity. Therefore, as all the addition....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e. The last paragraph of this letter categorically states this fact. Despite this fact available with the National Faceless Assessment Centre, the draft order under Section 144C of the Act was passed on Pentair Valves and Controls India Private Limited. 011. Though direction of the learned Dispute Resolution Panel dated 30/5/2022 is passed in the name of Emerson Process Management (India) Pvt. Ltd. Consequently, the final assessment order under Section 144C (13) of the Act was dated 28/6/2022 also passed in the name of Emerson Process Management (India) Pvt. Ltd. but same are based on an invalid transfer pricing assessment order as well as invalid draft assessment order. The transfer pricing additions are made in the transfer pricing asses....