2025 (2) TMI 199 - SCH - Income Tax

Validity of reassessment proceedings in name of a non-existing company - notice issued after scheme of amalgamation as approved by the High Court - As decided by HC 2023 (3) TMI 1483 - BOMBAY HIGH COURT stand of the Revenue that the reassessment proceedings could be initiated for a period prior to the specified date as per the scheme of amalgamation even against a non-existent entity is an argument which is clearly untenable. HELD THAT - As we are not inclined to interfere with the impugned order we are not issuing notice on the application for condonation of delay. Accordingly the application for condonation of delay as well as the special leave petition are dismissed.

Summary

In the Supreme Court judgment, presided over by Chief Justice Sanjiv Khanna and Justice Sanjay Kumar, the Court decided not to interfere with the impugned order. Consequently, the application for "condonation of delay" was not entertained, and the "special leave petition" was dismissed. All pending applications were also disposed of.