2014 (11) TMI 1257 - HC - Income Tax

Notice in name of the transferor or amalgamating company - corporate death of an entity upon amalgamation - Curable defect u/s 292B - HELD THAT - These appeals by the Revenue have to be dismissed as the issue is covered by decision of this Court in Spice Entertainment Ltd. vs. Commissioner of Income Tax 2011 (8) TMI 544 - DELHI HIGH COURT Our attention is also drawn to another decision in Commissioner of Income Tax-III vs. Dimension Apparels Pvt. Ltd 2014 (11) TMI 181 - DELHI HIGH COURT It is stated that Dimension Apparels Pvt. Ltd. is a sister concern of the respondent assessee in the present appeals. What is noticeable is that during the course of block assessment proceedings it was pointed out to the Assessing Officer that the respondent assessee has merged and was no longer in existence but the AO did not take remedial and corrective steps. In view of authoritative pronouncement of this Court in the case of Dimension Apparels Pvt. Ltd. (supra) the appeals have no merit and are accordingly dismissed.

Summary

The Delhi High Court allowed exemption subject to exceptions in ITA case 684/2014. The Revenue's appeals (ITA Nos. 683/2014 and 684/2014) were dismissed as the issue was covered by a previous court decision. The court referred to a related case involving Dimension Apparels Pvt. Ltd., a sister concern of the respondent, where the respondent had merged and was no longer in existence during block assessment proceedings. The appeals were dismissed based on the authoritative pronouncement in the Dimension Apparels Pvt. Ltd. case.