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TMI Blog2024 (11) TMI 650X X X X Extracts X X X X X X X X Extracts X X X X ..... ceedings were initiated under Section 147 of the Act pursuant to the notice dated 6.12.2018. Apart from that in the reasons to believe which was appended to the notice the assessing officer has specifically referred to the details regarding the amalgamation. Therefore, the submission of the revenue cannot be accepted as it is factually incorrect. Assessee had filed the return in the name of the company prior to its amalgamation - This issue was also considered by the learned Tribunal and after taking note of the decision of this Court in the case of I. K. Agencies (P) Ltd. [ 2011 (3) TMI 690 - CALCUTTA HIGH COURT ] the contention was rejected since the fact that the real assessee subsequently filed its return with objection that such notice ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee without considering the fact that neither the assessee nor the amalgamating company informed the AO about the scheme of amalgamation approved by the Hon ble High Court and therefore defect in not issuing notice in the name of amalgamated company remained a curable defect under section 292B of the Income Tax Act, 1961 ? b. Whether the learned Tribunal has committed substantial error in law in granting relief to the assessee without considering the fact that neither the assessee nor the amalgamating company applied for deactivation of PAN of the amalgamating company, which was in existence till the issuance of scrutiny notice and therefore defect in not issuing notice in the name of amalgamated company is a curable defect under section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ting entity. Before us the learned standing counsel vehemently contend that the fact that the assessee company was amalgamated with GPT Ventures Pvt. Ltd. was never disclosed to the assessing officer and they came to know only on 2024. 4. This submission appears not to have been raised any such fact before the learned Tribunal. Nonetheless, we considered the said submission and we found the said submission to be factually incorrect as the assessing officer was aware of the amalgamation even at the time when proceedings were initiated under Section 147 of the Act pursuant to the notice dated 6.12.2018. Apart from that in the reasons to believe which was appended to the notice the assessing officer has specifically referred to the details reg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... had suppressed the fact of amalgamation. However, in the instant case as pointed out earlier the fact of amalgamation was well within the knowledge of the assessing officer as early as in the year 2018. So far as filing of return in the name of the assessee company prior to its amalgamation was an event which could not be avoided by the assessee and in any event mere filing of such return cannot be taken to be a ground to cure the inherent defect which goes to the root of the matter. 7. Therefore, the decision of the Hon ble Supreme Court in PCIT Vs. Mahagun Realtors Pvt. Ltd. (supra) cannot be of any assistance to the facts and circumstances of the present case. 8. For the reasons as stated above, the appeal is dismissed. 9. The substantia ..... X X X X Extracts X X X X X X X X Extracts X X X X
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