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TMI Blog2022 (8) TMI 1555X X X X Extracts X X X X X X X X Extracts X X X X ..... despite fact that he had full knowledge of amalgamation while making the addition. A.O should have considered the effect of amalgamation more so in view of the specific mandate of the Hon'ble High Court. A.O has ignored the above facts. Further, as per the decision of Penta media Graphics Ltd. [ 2010 (1) TMI 753 - MADRAS HIGH COURT ] which is also followed by the Delhi Bench of the Tribunal in the case of Bharti Airtel Limited [ 2011 (2) TMI 1634 - ITAT DELHI ] the only course open to the Revenue would be to act as per the scheme sanctioned effective from 01/04/2013 which means that the tax authorities are bound to take note of the state of affairs of the assessee as on 01/04/2013 and a return filed reflecting the same cannot be ignore ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /-. As against the assessment order dated 31/02/2016, the assessee has preferred an Appeal before the CIT(A). The Ld.CIT(A) vide order dated 15/10/2018, allowed the Appeal filed by the assessee. 4. Aggrieved by the order dated 15/10/2018 passed by the Ld.CIT(A), the Department is in Appeal before us on the grounds mentioned above. 5. The Ld. DR submitted that, the Ld.CIT(A) has committed a grave error in allowing the Appeal of the assessee ignoring the fact that the assessee in response to the notice u/s 139(9) of the Act, instead of rectifying the defect in its return, completely revised its return, which is not permissible as per Section 139(9) of the Act, but the Ld. CIT (A) has erroneously ignored the same and allowed the Appeal filed b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee to correct the defects and does not permit to file another return. Therefore, held that the income of the assessee shall be assessed as reported in the original return filed on 29/11/2014 and assessed the income of the assessee at Rs. 2,80,78,480/-. 9. The Ld. CIT(A) while allowing the Appeal observed as under:- 3.2 I have carefully considered the assessment order and written submission filed by me Ld. AR. It is observed that the AO has asked for various details regarding the amalgamating companies and verified the expenses of all the companies and never challenged the correctness/genuineness of the expenses claimed by the amalgamating companies. But at the time of passing the order he only considered the standalone Balance sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned effective from 01/04/2013 which means that the tax authorities are bound to take note of the state of affairs of the assessee as on 01/04/2013 and a return filed reflecting the same cannot be ignored on the strength of section 139(9) of the Act. The merits otherwise on the return field have never been challenged by the A.O. Therefore, in our opinion the assessed income as per the return field by the appellant u/s 139(9) of the Act on the basis of consolidated Balance sheet should have been accepted by the A.O. The Ld. CIT (A) has rightly allowed the Appeal filed by the Assessee by setting aside the Assessment Order. Therefore, in our opinion, the order of the Ld. CIT(A) requires no interference. Accordingly, we dismiss the grounds of Ap ..... X X X X Extracts X X X X X X X X Extracts X X X X
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