AKSH OPTIFIBRE LIMITED,NEW DELHI vs. ACIT, CIRCLE - 2, ALWAR
आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर
IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”A” JAIPUR
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BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI GAGAN GOYAL, AM vk;dj vihy la-@ITA No. 170/JPR/2024
fu/kZkj.k o"kZ@Assessment Year : 2010-11
Aksh Optifibre Limited
A-25,
Mohan
Co-operative
Circle-2,
Alwar.
LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAACA0062F vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksjls@Assesseeby :Shri Akul Agarwal, C.A. (thr. V.C.) jktLo dh vksjls@Revenue by :Shri Arvind Kumar, CIT-DR lquokbZ dh rkjh[k@Date of Hearing
: 12/03/2025
mn?kks"k.kk dh rkjh[k@Date of Pronouncement: 20/05/2025
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PER: DR. S. SEETHALAKSHMI, J.M.
The present appeal has been filed by the assessee against the order of ld. CIT
(Appeals)-29, Delhi dated 13.12.2023 passed under section 250 of the I.T. Act,
1961, for the assessment year 2010-11. 2. The assessee has raised the following grounds of appeal :-
“1. On the facts and in the circumstances of the case and in law the Ld. A.O. has erred in law as well as on facts in Issuing notice u/s 148 to an entity which was non-existing as on the date of issuing the notice as it had already amalgamated with another company.
2
Aksh Optifibre Limited
The Appellant prays that the assessment order be quashed on account of notice being issued to non-existent company.
On the facts and in the circumstances of the case and in law the Ld. A.O. has erred in law as well as on facts in issuing notice u/s 148 on account of mere change of opinion as the assessment of the amalgamated company had already been completed u/s 143(3) of the Income Tax Act, 1961. The Appellant prays that the re-assessment order passed u/s 147 r.w.s. 143(3) be quashed on account of proceedings being Initiated on mere change of opinion.
That having regard to the facts and circumstances of the case, Ld. A.O. has erred in law and on facts in issuing notice u/s 148 of the Income Tax Act, 1961 to the appellant without having juri iction over the appellant.
That having regard to the facts and circumstances of the case, Ld. A.O. has erred in law and on facts in framing assessment order u/s 147 r.w.s. 143(3) and issuing demand order u/s 156 of the Income Tax Act, 1961 against a non-existent entity which had been amalgamated with another company vide order of Hon'ble Rajasthan High Court.
On the facts and in the circumstances of the case and in law the Ld. A.O. has erred in law as well as on facts by disallowing depreciation for 182 days of the amalgamated entity without appreciating the documents and chain of documents placed on record.
The chain of documents like Board resolution, Corporate Announcement on the website of Bombay Stock Exchange on 06.03.2009 at 19.04 pm. Postal Ballot notice issued on 05.03.2009 clearly mentioned appointed date as 01.04.2009, Information to National
Stock Exchange and Bombay Stock Exchange, Documents Submitted with