Corporate Mergers and Tax Assessment: Navigating Legal Entity Changes and rectification u/s 292B

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of an assessment order issued in the name of a non-existent entity following a corporate merger. The case primarily deals with whether such a mistake can be rectified under the Income Tax Act, 1961. Key Legal Issues 1. Whether an inadvertent mistake by the Transfer Pricing Officer (TPO) in not mentioning the correct entity name is a curable mistake under the Income Tax Act, particularly in ligh....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....red from a patent and fatal mistake not rectifiable u/s 154 or 292B - The case was governed by the principles laid down in International Hospital Limited v. DCIT Circle - 2024 (9) TMI 1631 - DELHI HIGH COURT Key Holdings and Reasoning The Court held: 1. Fundamental Error: - The order was made in the name of a non-existent entity despite prior disclosure of merger - This constituted a funda....