As per the Scheme of Amalgamation, the effective merger date of ...
Merger effective 01.04.2012, transferee liable for transferor's taxes. Assessing non-existent transferor post-merger incorrect. Orders quashed.
Case Laws Income Tax
August 1, 2024
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, and its tax liability merged with the transferee company. The transferee was obligated to include the transferor's tax liability. Issuing assessment orders against the non-existent transferor post-merger was incorrect. The impugned assessment orders were quashed, and the writ petitions were allowed by the HC.
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