Assessment Order Against Merged Company Cairn India Void Under Income Tax Act Sections 154, 292B As Entity No Longer Existed

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....Del HC held assessment order issued in name of Cairn India Limited after its amalgamation with Vedanta Limited was fundamentally void and not rectifiable under s.154 or s.292B of Income Tax Act. Court distinguished from Sky Light Hospitality precedent, noting assessee had properly disclosed merger information. Fundamental jurisdictional defect arose as TPO made order against non-existent entity despite prior notification of corporate amalgamation. Error transcended mere clerical mistake, constituting jurisdictional flaw that invalidated entire proceedings. Court rejected Revenue's argument that error was technical irregularity, emphasizing distinction between curable procedural defects and fatal jurisdictional errors in tax assessment proceedings.....