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TMI Blog2024 (8) TMI 54X X X X Extracts X X X X X X X X Extracts X X X X ..... rged with the transferee company M/s.Seshasayee Paper and Boards Limited. Thus, it is incumbent on the part of the transferee company to have included the tax liability of the transferor company SPB Papers Limited in view of the merger with effect from 01.04.2012. If this was not done, it is for the Income Department to proceed against the transferee company and not against the transferor company which stood merged w.e.f. 01.04.2012. Therefore, the impugned Assessment Orders are liable to be quashed and are accordingly quashed. Writ Petitions are allowed - Hon'ble Mr. Justice C. Saravanan For the Petitioner in both W.Ps. : Mr.A.L.Somayagi Senior Counsel for Mr.G.Baskar For the Respondents in both W.Ps. : Mr.J.Parekh Kumar Senior Stand ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e regular return of income was also filed by M/s.Seshasayee Paper and Boards Limited under Section 139 of the Income Tax Act, 1961, on 29.11.2013. This return would have included the income of the transferrer company namely, SPB Papers Limited. The Department has however issued a notice under Section 148 of the Income Tax Act, 1961 on 31.03.2021 being the last date invoking the machinery for issuance of notice under Section 148 of the Act as changed with effect from 01.04.2021. The said Notice was addressed to SPB Papers Limited since merged with M/s.Seshasayee Paper and Boards Limited. 6. Thereafter, notices were issued to SPB Paper Limited under Section 142(1) of the Income Tax Act, 1961 on 11.11.2021 which were replied back by the Charte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s that the PAN Number of the company with the above IE Code has been declared. 24. Similarly, some of the copies of the Bill of Entries filed by the petitioner before this Court also indicate that the Bills of Entry also contain the PAN number of the petitioner company with the same IE Code and not the PAN number of the Partnership Firm which seems to expire with effect from 14.07.2010. 25. The petitioner has also filed Copy of Form 15 CA acknowledgement with respect to Remittance to non-resident or foreign company which also indicate the name of the petitioner Company with the petitioner's PAN number. 26. On the other hand, the impugned order itself has been passed in the name of the non-existing firm based on a notice that was issued ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the obligation of the 2nd petitioner to intimate about the amalgamation to the department during the course of scrutiny proceedings. Moreover, the 2nd Petitioner had neither given information to the amalgamating company, Ms. Seshasayee Paper and Boards Limited (1st Petitioner) about the case having been selected for scrutiny nor filed the details of return of income filed by the Amalgamating company which admitted all the income of amalgamated company to the department. 11. Opposing the prayer, the learned Senior Standing Counsel for the respondents would submit that these Writ Petitions are devoid of merits as the petitioner has an alternate remedy before the Appellate Authority and therefore, these Writ Petitions are liable to be dismisse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er the Scheme of Amalgamation is 01.04.2012. Thus, w.e.f. 01.04.2012, the said SPB Papers Limited ceased to exist. The tax lability of the said transferor company SPB Papers Limited would have stood merged with the transferee company M/s.Seshasayee Paper and Boards Limited. 16. Thus, it is incumbent on the part of the transferee namely, M/s.Seshasayee Paper and Boards Limited to have included the tax liability of the transferor company SPB Papers Limited in view of the merger with effect from 01.04.2012. If this was not done, it is for the Income Department to proceed against the transferee company M/s.Seshasayee Paper and Boards Limited and not against the transferor company SPB Papers Limited which stood merged w.e.f. 01.04.2012. Therefor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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