2023 (3) TMI 1483

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e common questions of facts and law arise in both these petitions between the parties, the facts in Writ Petition No. 2855 of 2022 are being referred to. 2. Briefly stated the material facts are as under : 2.1. A notice under section 148 of the Income-tax Act, 1961 ("the Act") dated March 30, 2021, for the assessment year 2013-14 came to be issued against Elitecore Technologies Private Limited ("ETPL") on the basis of the Assessing Officer (AO) having reason to believe that income chargeable to tax for the assessment year 2013-14 had escaped assessment within the meaning of section 147 of the Act. 2.2. In response to the said notice, a communication dated April 28, 2021 was addressed by the petitioner to the Assessing Officer informing h....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....as per the scheme of amalgamation. 4. Heard learned counsel for the parties. 5. Admittedly as per the scheme of amalgamation which was approved by the High Court of Gujarat vide its order dated March 21, 2016 and by the Bombay High Court vide its order dated April 7, 2016, ETPL stood amalgamated with the petitioner with effect from the specified date, i. e., September 29, 2015. An intimation with regard to factum of amalgamation is stated to have been provided by virtue of communication dated June 6, 2016 to the Assessing Officer of the erstwhile entity by the petitioner. The said fact was also brought to the notice of the Assessing Officer by the petitioner pursuant to the receipt of notice under section 148 of the Act, despite which the....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... does not cover the mere acquisition by a company of the share capital of other company which remains in existence and continues its undertaking but the context in which the term is used may show that it is intended to include such an acquisition. See: Halsbury's Laws of England (4th edition volume 7 para 1539). Two companies may join to form a new company, but there may be absorption or blending of one by the other, both amount to amalgamation. When two companies are merged and are so joined, as to form a third company or one is absorbed into one or blended with another, the amalgamating company loses its entity." 6.1. In the case of Spice Entertainment Ltd. v. Commissioner of Service Tax 2012 (280) ELT 3 (Delhi) a Division Bench of t....