9911796707
TMI Blog2021 (4) TMI 1228X X X X Extracts X X X X X X X X Extracts X X X X ..... nder challenge in the present writ petition. 2. The petitioner is Vama Sundari Investments (Delhi) Private Limited [as the successor of erstwhile M/s.HCL Corporation Ltd., HCL Peripherals Limited and Slocum Investments (Delhi) Private Limited]. 3. The learned Senior counsel appearing for the writ petitioner mainly contended that the notice impugned under Section 147 of the Act was issued on a dead person. Therefore, it is liable to be scrapped. To substantiate the said contention, it is reiterated that the notice cannot be issued to a nonexisting entity and such a notice is invalid. Therefore, service of notice as contemplated under the Statue has not been complied with. Therefore, the writ petition is to be allowed. As on 30.03.2012, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the copy of the order of merger passed by the High Court of Delhi was enclosed in the letter and the return of income filed for the Assessment year 2009-10 with the DCIT, Company Circle 12(1), New Delhi was also informed. Citing all these facts and circumstances, the learned Senior Counsel for the petitioner reiterated that the notice impugned was served on a dead person, since the Company was not existing during the relevant point of time. Thus, the order impugned is to be set aside. 5. In proceedings dated 02.11.2012, the Deputy Commissioner of Income Tax furnished the reasons recorded for initiation of proceedings under Section 147 of the Income Tax Act. The said proceedings would reveal that "as per the ITS Data, the assessee company h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Relying on the said Explanation-1, the learned Senior Standing Counsel reiterated that the case of the petitioner falling under the sub-clause and the reason furnished for reopening of the assessment was made clear in this regard by the respondent. Thus, the petitioner has to cooperate for the assessment by producing all relevant facts, documents and information, in order to defend his case. 9. The learned Senior Standing Counsel appearing for the respondent relied on Explanation-2, Sub-clause (c)(i) to Section 147 which stipulates that " income chargeable to tax has been under assessed". 10. The learned Senior Standing Counsel in order to substantiate the contention cited the judgment of the Hon'ble Division Bench of this Court in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nst the amalgamated company. 11. Regarding the ground raised by the petitioner that the impugned order was served on non-existing company, it is relevant to consider Section 170 of the Act which stipulates "succession to business otherwise than on death". Section 170 Sub-clause (ii) reads as under: Notwithstanding anything contained in sub- section (1), when the predecessor cannot be found, the assessment of the income of the previous year in which the succession took place up to the date of succession and of the previous year preceding that year shall be made on the successor in like manner and to the same extent as it would have been made on the predecessor, and all the provisions of this Act shall, so far as may be, apply accordingly. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erits, the respondent could able to establish that there is a "reason to believe" in view of certain new materials noticed in the matter of purchased units of mutual funds to the extent of Rs. 52,39,18,310/-. 15. This being the facts and circumstances established, the petitioner has to participate in the reassessment proceedings by submitting their documents, evidences to establish their case. Thus, the respondents have to proceed with reopening of the assessment already made and the proceed with the assessment by following the procedures as contemplated under the Act and by affording opportunity to the assessee. In view of the fact that the petitioner has not established any acceptable reason for the purpose of assailing the impugned orde ..... X X X X Extracts X X X X X X X X Extracts X X X X
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