Filling of Modified return after amalgamation - Effect of order ...

Tax Assessment Must Use Consolidated Returns Post-Amalgamation, High Court Remands Case for Reassessment.

February 9, 2024

Case Laws Income Tax HC

Filling of Modified return after amalgamation - Effect of order of tribunal or court in respect of business reorganisation u/s 170A - The High Court observed that Section 170A of the Income Tax Act mandates that any assessment after a business reorganization should be based on the modified return. Since the scheme of amalgamation became effective from 01.04.2020, the petitioner's consolidated return after amalgamation should have been the basis for assessment. - Consequently, the matter remanded back to AO to make a reassessment on the basis of such consolidated return of income.

View Source

← Previous Next →

Filling of Modified return after amalgamation - Effect of order ...

Tax Assessment Must Use Consolidated Returns Post-Amalgamation, High Court Remands Case for Reassessment.

February 9, 2024

Case Laws Income Tax HC

You may also like:

Assessment after re-organization of Business - amalgamation or demerger or merger - To remove the difficulty of filling of return by successor it has been proposed to...

Revised return of income in terms of the scheme of amalgamation approved by the NCLT -Period of limitation - It is because of circumstances beyond the control of the...

Reopening of assessment u/s 147 - Return filed was non-est return and not a valid return in the eyes of law as per Section 139(4)- Clause (a) of Explanation 2 would...

The HC held that Input Tax Credit (ITC) claims must typically be made in the Return or Revised Return, with exceptions requiring demonstrated bona fides. Rectification...

Reopening of assessment u/s 147 where assessment proceedings already pending - Unless the return of income already filed is disposed of, the notice for reassessment u/s...

This case involves a challenge to an order of re-assessment under the relevant tax laws. The key points are: The petitioner failed to submit monthly returns within the...

The High Court quashed the reassessment proceedings initiated by the Assessing Officer u/s 148 of the Income Tax Act, holding it to be a case of "change of opinion" and...

Income Tax: Rationalisation of provisions related to time-limit for completion of assessment, reassessment and recomputation. Proposed amendments: (i) Insertion of new...

Validity of reassessment order made in the name of defunct company which has since merged with the petitioner - it would be absurd to hold that the order has been passed...

Validity of manual revised returns filed - scheme of demerger approved - scheme of arrangement approved by NCLT required Petitioner and Hind Lamps to file revised...

Introduction of block assessment provisions in cases of search u/s 132 and requisition u/s 132A for early finalization of search assessments, coordinated investigation,...

Reopening of assessment u/s 147 against non-existing entity - scheme of the amalgamation and arrangement approved - The High Court acknowledges the petitioner's argument...

Income-tax (Second Amendment) Rules, 2019 - Filing of Returns (ITR) for the Assessment Year 2019-2020

Reopening of assessment - requirement of issue of notice u/s 143 - The question will arise then that if the assessee was issued a notice u/s 148 of the Act and he does...

As per the Scheme of Amalgamation, the effective merger date of the petitioner company with another company was 01.04.2012. Post-merger, the petitioner ceased to exist,...

Quick Updates: