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August 2014

Assessment: Company: Amalgamation w.e.f. 01/04/2009: A. Y. 2010-11: Notice dated 20/06/2012 u/s. 142 to amalgamating (transferor) for assessment of the company for A. Y. 2010-11 is not valid:

By K. B. Bhuj le Advocate
Reading Time 1 mins
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Khurana Engineering Ltd. vs. Dy. CIT; 364 ITR 600 (Guj):

Under
a scheme of amalgamation, the transferor company was amalgamated with
the assessee company w.e.f. 01-04-2009. On 20-06-2012, the Assessing
Officer issued notice u/s. 142 of the Income-tax Act, 1961 to the
amalgamating (transferor) company for assessment of the company for the
A. Y. 2010-11.

The Gujarat High Court allowed the writ petition
filed by the assessee-amalgamated company challenging the said notice
and held as under:

“i) A s per the order of the High Court
allowing the scheme of amalgamation, the appointed date for amalgamation
is 01-04-2009. The transferor company would no longer be amenable to
assessment proceedings for the A. Y. 2010-11.

ii) T he notice for producing documents for such assessment would, therefore, be invalid. Impugned notice is quashed.”

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