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TMI Blog2023 (8) TMI 148X X X X Extracts X X X X X X X X Extracts X X X X ..... al assessment order also cannot be sustained. - ITA Nos. 772 And 2126/Mum/2022 - - - Dated:- 31-7-2023 - Shri Prashant Maharishi, AM And Shri Sandeep Singh Karhail, JM For the Assessee : Shri Dhanesh Bafna, Ms. Chandhi Shah, Ms. KInjal Patel, ARs For the Revenue : Shri Pravin Salunkhe, Add. CIT ORDER PER PRASHANT MAHARISHI, AM: 01. These are the two appeals filed by the Emerson Process Management (India) Pvt. Ltd. (Successor-in-Interest for Pentair Valves and Controls India Private Limited) for A.Y. 2017-18 and 2018-19. 02. ITA No.772/Mum/2022 is filed by the assessee for A.Y. 2017-18 against the assessment order passed by the National Faceless Appeal Centre, Delhi (the learned Assessing Officer) dated 24th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ontrols India Private Limited, which is a non-existing company and therefore, all the above three orders are invalid. Consequently, the final assessment order passed on invalid orders is also invalid. 04. The brief fact of the case shows that i National Law Company Tribunal, Ahmadabad, has passed order on 5th December, 2019, by which Pentair Valves and Controls India Private Limited by scheme of amalgamation is amalgamated with M/s Emerson Process Management (India) Pvt. Ltd. ii Further, NCLT Mumbai order dated 14th November, 2019, scheme of merger by absorption has also been passed thereby Pentair Valves and Controls India Private Limited emerged with Emerson Process Management (India) Pvt. Ltd. iii Form No. INC28 [The Companie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in Para no.2 of the objection, the assessee stated that Pentair Valves and Controls India Private Limited is a non- existing company and despite intimation to the lower authorities i.e. learned Transfer Pricing Officer as well as the learned Assessing Officer, the learned Transfer Pricing Officer order under Section 92CA(3) of the Act as well as, the draft assessment order is passed in the name of a non-existing entity. The fact of merger by filing the documents was once again reiterated. xi The learned Dispute Resolution Panel on 18th January, 2022, passed the direction in the name of Pentair Valves and Controls India Private Limited. xii Based on this, the final assessment order was passed by the learned Assessing Officer in the nam ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e name of a non existing entity. It is not the case of the Revenue that assessee has not intimated the fact of the merger. Despite this, the above two authorities passed the order under Section 92CA (3) of the Act and draft assessment order under Section 144C (1) of the Act in the name of non-existing entity. Before the learned Dispute Resolution Panel assessee filed objection by the Emerson Process Management (India) Pvt. Ltd. In objection no.1 itself, in statement of facts, the fact of merger was intimated. The assessee also submitted that despite this, the transfer pricing order and draft assessment order are passed in the name of non-existing entity. Despite above facts available, before the learned Dispute Resolution Panel on 18th Janu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntrols India Private Limited. It is interesting to note that in the 1st Paragraph of order under Section 92CA (3) of the Act, the learned Transfer Pricing Officer has mentioned the fact of amalgamation. Therefore, there is no dispute that fact of amalgamation is in the knowledge of tax authorities for impugned assessment year. The draft order under Section 144C of the Act was passed on 29th August, 2021, wherein the intimation of merger was already available in the transfer pricing order and by letter dated 31st December, 2020, and further letter dated 23rd August, 2021, the fact of merger was reiterate. The last paragraph of this letter categorically states this fact. Despite this fact available with the National Faceless Assessment Centre ..... X X X X Extracts X X X X X X X X Extracts X X X X
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