2024 (11) TMI 650

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....unal) in ITA/491/Kol/2021 for the assessment year 2011-12. The revenue has raised the following substantial questions of law for consideration:- a. Whether the learned Tribunal has committed substantial error in law in granting relief to the assessee without considering the fact that neither the assessee nor the amalgamating company informed the AO about the scheme of amalgamation approved by the Hon'ble High Court and therefore defect in not issuing notice in the name of amalgamated company remained a curable defect under section 292B of the Income Tax Act, 1961 ? b. Whether the learned Tribunal has committed substantial error in law in granting relief to the assessee without considering the fact that neither the assessee nor the amal....

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....ld to be valid as the fact of amalgamation was suppressed from the AO ? 3. The short question which falls for consideration in this appeal is whether the reopening of the assessment was valid in law, inasmuch as, the notice was admittedly sent to a non existing entity. Before us the learned standing counsel vehemently contend that the fact that the assessee company was amalgamated with GPT Ventures Pvt. Ltd. was never disclosed to the assessing officer and they came to know only on 2024. 4. This submission appears not to have been raised any such fact before the learned Tribunal. Nonetheless, we considered the said submission and we found the said submission to be factually incorrect as the assessing officer was aware of the amalgamation....