2023 (8) TMI 1485

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.... RAJESH KUMAR, ACCOUNTANT MEMBER: This is an appeal preferred by the assessee against the order of Learned Commissioner of Income-tax (Appeals)- NFAC, Delhi [hereinafter referred to Ld. 'CIT(A)'] dated 24.04.2023 for the Assessment Year (in short 'AY') 2021-22. 2. The only issue raised by the assessee in the various grounds of appeal is against the order of Ld. CIT(A) upholding the order of The ....

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..... In view of the above amalgamation the assessee company pursuant to Clause 16 of Part III of the Scheme, wherein it was clearly stated that all taxes including TDS as well as including all or any refunds, credits and claims, incentives or other benefits belonging to the transferor companies from the appointed date onwards, be treated as the credits, claims and tax benefits of the transferee compa....

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....he ITR and as appearing in Form 26AS. 4. The said order of Ld. AO, CPC was challenged by the assessee before Ld. CIT(A). However, Ld. CIT(A) upheld the order of Ld. AO by simply stating that only assets of the amalgamated companies of the transferor companies were transferred and not the TDS. 5. After hearing rival contentions and perusing the material on record, we note that the scheme of amalg....

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....fect from 01.10.2020. We have perused the Scheme of amalgamation approved by the Hon'ble High Court and note that the appointed dated is 01.10.2020. In our opinion the said claim of the assessee is genuine as per the provisions of the Act and is squarely covered by the decision of the Hon'ble Supreme Court in the case of Marshall Sons & Co. (India) Ltd. Vs. ITO reported in 223 ITR 809 wher....