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“transferee company”

Mergers & RestructuringSection 2(1B)Section 2(1B)236 judgments

The decision most relied on for transferee company is Spice Infotainment Ltd. v. CIT (247 CTR 500), cited in 114 judgments on BharatTax.

Leading authorities on transferee company

Spice Infotainment Ltd. v. CIT
247 CTR 500 · 2012 · High Court
114
citing judgments

An assessment framed in the name of a company that has ceased to exist due to amalgamation is invalid, even if the amalgamated company participated in the proceedings. Such a defect cannot be cured under section 292B of the Income-tax Act.

Pentasoft Technologies Ltd. v. DCIT
41 Taxmann.com 120 · 2014 · High Court
58
citing judgments

A non-compete fee paid as part of a business acquisition or transaction constitutes an intangible asset, eligible for depreciation under Section 32(1)(ii) of the Income-tax Act.

CIT v. Smifs Securities Ltd.
87 Taxmann.com 82 · 2017 · High Court
38
citing judgments

Depreciation is allowable on goodwill as an intangible asset under Section 32(1)(ii) when it arises from a scheme of amalgamation or similar corporate restructuring.

Marshall Sons & Co. (India) Ltd. v. ITO
223 ITR 809 · 1997 · Supreme Court
29
citing judgments

In cases of amalgamation, the computation of income should be done with reference to periods before and after the appointed day, not the date of court sanction. Amalgamating companies cease to exist in law upon amalgamation.

Dalmia Power Ltd. v. ACIT
420 ITR 339 · 2020 · Supreme Court
21
citing judgments

Once a scheme of arrangement or amalgamation has been sanctioned by a competent court and due notice has been issued to the income tax department, the binding nature of the scheme cannot be challenged during its implementation, as it attains statutory force.

CIT v. Intel Techno India P. Ltd.
57 Taxmann.com 159 · 2015 · High Court
15
citing judgments

An assessment framed in the name of a company that no longer exists due to amalgamation is a nullity and cannot be cured by Section 292B. The assessment proceedings are void if notice is not issued to the transferee company.

Judgments citing transferee company

Shiva Pharmachem Limited, Vadodara vs. Deputy Commissioner of Income Tax, Circle 2(1)(1), Vadodara

In the result, the appeal of the Assessee is allowed

ITA 698/AHD/2023[2021-2022]Status: DisposedITAT Ahmedabad04 Jul 2024AY 2021-2022

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar, Accountnat Member Assessment Year : 2021-22 Shiva Pharmachem Limited The Dy.Cit Shiva 12Th Floor, Vs Circle-2(1)91) Opp. Tricolour Hospital Vadodara Genda Circle, Vadodara-390 023 (Gujarat) Pan: Aajcs 3940 B अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Sunil Talati, Ar Revenue By : Shri Sudhakar Verma, Sr.Dr सुनवाई क" तार"ख/Date Of Hearing : 01/07/2024 घोषणा क" तार"ख /Date Of Pronouncement: 04/07/2024 आदेश/O R D E R Per Shri Makarand V. Mahadeokar, Am: This Appeal By Assessee Is Filed Against The Order Of Commissioner Of Income Tax (Appeals) – National Faceless Appeal Centre – Delhi [Hereinafter Referred To As “The Ld.Cit(A)”] Passed On 24/07/2023 U/S. 250 Of The Income Tax Act,1961 (Hereinafter Referred To As “The Act”) Instituted Against The Order Dated 19/12/2022 Passed By The Assistant Director Of Income Tax, Cpc, Under Section 154 Of The Income-Tax Act, 1961, For The Assessment Year (Ay) 2021-22. Facts Of The Case: Shiva Pharmachem Liimited Vs. The Dcit Asst. Year 2021-22:

For Appellant: Shri Sunil Talati, ARFor Respondent: Shri Sudhakar Verma, Sr.DR
Section 154Section 230Section 250

DCIT (ITA No.1412/Mum/2018 & others dated 14.12.2021). 4.1. In these cases, it was held that the resulting company in a demerger and the transferee company in a transfer are eligible to claim TDS credit even if the TDS certificates are in the name of the demerged/transferor company. Shiva Pharmachem Liimited

Sitapuram Power Limited-Erstwhile Amalgamating Company (Now Amalgamated Company-Zuari Cement Limited), Kadapa vs. DCIT, Circle 1, Hyderabad

In the result, appeal of the assessee is allowed

ITA 79/HYD/2022[2017-18]Status: DisposedITAT Hyderabad02 Jul 2024AY 2017-18

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdia, Hon’Bleआआआआ आआआआ आआ./ I.T.A. (Tp) No.79/Hyd/2022 (आआआआआआआआ आआआआ / Assessment Year: 2017-18) Erstwhile Amalgamating Company Vs. Deputy Commissioner Of – Sitapuram Power Limited Income Tax, Pan:Aajcs2098E Circle-1, (Now Amalgamated Company – Nellore. Zuari Cement Limited), Kadapa. Pan:Aajcs2098E (आआआआआआआआआ/ Appellant) (आआआआआआआआआआ/ Respondent) आआआआआआआआआ आआ आआ आआ/ Appellant : Adv. Shri Deepak Chopra & Nitin Narang By आआआआआआआआआआआ आआ आआ आआ / : Shri Kumar Pranav, Cit-Dr Respondent By आआआआआआ आआ आआआआआ / Date Of : 15/05/2024 Hearing आआआआआ आआ आआआआआ/Date Of : 02/07/2024 Pronouncement O R D E R

For Appellant: Adv. Shri Deepak Chopra &
Section 143(3)Section 144C(5)Section 40A(2)(b)Section 80ISection 92Section 92(3)Section 92BSection 92D

viaa) (viab); 47 (vii); 72A; 72AB, etc. the transferee was in existence, vis-à-vis the transfer to the transferee company); carry forward of loss, depreciation, all bear out that under the Act, (a) the business-including the rights, assets and liabilities of the transferor company do not cease

Madhav Infra Projects Ltd (Erstwhile Aashka Constructions P. Ltd.), Vadodara vs. The Dy.CIT, Circle-1(1)(1), Ahmedabad

ITA 88/AHD/2023[2009-10]Status: DisposedITAT Ahmedabad28 Jun 2024AY 2009-10

Bench: Mrs. Annapurna Gupta & Shri Siddhartha Nautiyalिनधा"रणवष"/Assessment Year: 2009-10 Vs. Madhav Infra Projects Ltd., Dcit, (Erstwhile Aashka Circle-1(1)(1), Constructions Pvt. Ltd.), Ahmedabad 4, Madhav House, Nr. Panchratna Building, Subhanpura, Baroda, Gujarat Pan : Aadcm 1157 C अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri S.N. Soparkar, Sr. Advocate, Ms. Urvashi Shodhan, Ar & Shri Parin Shah, Ar Revenue By : Ms. Saumya Pandey Jain, Sr. Dr सुनवाई क" तारीख/Date Of Hearing : 19.03.2024/26.06.2024 घोषणा क" तारीख /Date Of Pronouncement: 28.06.2024 आदेश/O R D E R Per Annapurna Gupta: Present Appeal Has Been Filed By The Assessee Against Order Of The Learned Commissioner Of Income-Tax (Appeals)-12, Ahmedabad [Hereinafter Referred To As "Cit(A)" For Short] Dated 23.12.2022 Passed Under Section 250 Of The Income Tax Act, 1961 [Hereinafter Referred To As "The Act" For Short] For Assessment Year (Ay) 2009-10. 2. Grounds Raised Are As Under :- “1. Ld. Cit (A) Erred In Law & On Facts Confirming Action Of Ao Passing An Ex- Parte Order On An Entity That Ceased To Exist Pursuant To Order Of Amalgamation Passed By Hon'Ble High Court. The Order Passed On Non-Entity Is A Nullity & Void Ab Initio That Ought To Be Quashed.

For Appellant: Shri S.N. Soparkar, Sr. AdvocateFor Respondent: Ms. Saumya Pandey Jain, Sr. DR
Section 144Section 147Section 148Section 234BSection 250Section 271(1)(c)

erred in law and on facts in rejecting the contention raised by the appellant that impugned proceedings ought to have been initiated against the transferee company namely Madhav Infra Projects Ltd. that had not been done. 4. Ld. CIT (A) erred in law and on facts to observe that notice ... amalgamation and the facts of each case. It noted that the enterprise/ undertaking of the transferor entity continues even after amalgamation in the transferee company, though the entity ceases to exist. That in this background therefore where the transferor entity cannot be said to be non-existent completely, its business

Shaily Prince Goyal, Mumbai vs. Income Tax Officer-27(3)(1), Navi Mumbai

In the result, the appeal of the assessee Shri Yogesh Popatlal Thakkar in ITA No

ITA 4271/MUM/2023[2013-14]Status: DisposedITAT Mumbai30 May 2024AY 2013-14
For Appellant: Dr. K Shivaram Sr. Advocate & Shashi BekalFor Respondent: Ms. Sujatha Iyangar SR AR
Section 10(38)Section 143(3)Section 148Section 250Section 68Section 69C

Companies Act, 1956; AND In the matter of the Scheme of arrangement between PARIDHI PROPERTIES LIMITED, the Transferor Company WITH LUMINAIRE TECHNOLOGIES LIMITED, the Transferee Company Mr. Rajesh Shah with Mr. Chandrakant Mhadeshwar /b Rajesh Shah &Co. Advocates for Petitioners in both Petitions. Mrs. R. N. Sutar, Asstt. Official Liquidator ... sanction of the Court is sought to a Scheme of Arrangement between PARIDHI PROPERTIES LIMITED, the Transferor Company with LUMINAIRE TECHNOLOGIES LIMITED, the Transferee Company, under Sections 391 to 394 of the Companies Act, 1956. 3. Counsel appearing on behalf of the Petitioners has stated that the Petitioners have complied

Novartis India Ltd, Mumbai vs. Asst CIT 7(1), Mumbai

ITA 2308/MUM/2012[2003-04]Status: DisposedITAT Mumbai28 May 2024AY 2003-04

Bench: Pavan Kumar Gadale & Shri Girish Agrawal

Section 37(1)Section 41(3)Section 80H

view of the above, since the assets have been transferred by the assessee at book value and depreciation has been claimed by the transferee company on the said book value, it is the book value (i.e. book WDV) of transferred assets and not IT WDV which has to be reduced

ACIT Cir 7(1), Mumbai vs. Novartis India ( Formelry Known As Hindustan Ciba Giegy Ltd), Mumbai

In the result, (i) the appeal filed by the assessee is partly allowed for statistical purpose (ii) the appeal filed by the revenue is dismissed and (iii) the Cross Objections filed by the assessee ...

ITA 2188/MUM/2012[2003-04]Status: DisposedITAT Mumbai28 May 2024AY 2003-04

Bench: Pavan Kumar Gadale & Shri Girish Agrawal & Co 76/Mum/2013 (A.Y 2003-04) Novartis India Limited Vs. Deputy Commissioner Of Income–Tax–14(1)(1) Inspire Bkc, 7Th Floor, Room No 432, Bandra Kurla Complex, Aaykar Bhawan, Bandra (E) M.K. Marg, Mumbai-400051. Mumbai-400020. Pan/Gir No. Aaach2914F (अपीलाथ"/Appellant) (""यथ"/Respondent) Deputy Commissioner Vs. Novartis India Limited Of Income–Tax–14(1)(1) Inspire Bkc, 7Th Floor, Room No 432, Bandra Kurla Complex, Aaykar Bhawan, Bandra (E) M.K. Marg, Mumbai-400051 Mumbai-400020 Pan/Gir No. Aaach2914F (अपीलाथ"/Appellant (""यथ"/Respondent)

Section 37(1)Section 41(3)Section 80H

view of the above, since the assets have been transferred by the assessee at book value and depreciation has been claimed by the transferee company on the said book value, it is the book value (i.e. book WDV) of transferred assets and not IT WDV which has to be reduced

DCIT Circle-3(4), Mumbai vs. Idbi Bank Ltd, Mumbai

In the result, we confirm the order of the learned CIT (A) and dismiss the appeal of the learned Assessing Officer

ITA 3882/MUM/2023[2006-07]Status: DisposedITAT Mumbai13 May 2024AY 2006-07

Bench: Prashant Maharishi, Am & Shri Raj Kumar Chauhan, Jm Idbi Bank Ltd. Dcit Cirlce-3(4), 22Nd Floor Idbi Tower, R.No.559, 5Th Floor, Wtc Complex, Aaykar Bhavan, M.K.Road, Cuffe Parade, Vs. Mumbai 400020 Mumbai 400005 (Appellant) (Respondent) Co No. 28/Mum/2024 (Arising In Ita No.3882/Mum/2023 For A.Y.2006-07)

For Appellant: Shri C. Naresh, ARFor Respondent: Shri H M Bhatt, Sr. DR
Section 154

outer shell of the corporate entity is undoubtedly destroyed. However, the business and the adventure lives on within a new corporate residence, i.e., the transferee company?" 03. The brief facts of the case shows that the learned Assessing Officer has passed an order under Section 154 of the Income ... Mahagun Realtors (P.) Ltd. [2022] 137 taxmann.com 91 (SC) has categorically held that in case of amalgamation the business of the transferee company survives. Therefore, the learned CIT (A) is not correct in quashing the rectification order. 07. The learned Authorised Representative referred to his submission reproduced by the learned

Sony Pictues Netorks India P. Ltd., Mumbai vs. Addl/Jt/Dy/Asstt/CIT/ITO, National E-Assessment Centre Delhi (Now Known As National Faceless Assessment Centre), Delhi

In the result, both the appeals of the assessee are treated as allowed

ITA 925/MUM/2021[2016-17]Status: DisposedITAT Mumbai02 May 2024AY 2016-17

Bench: Justice (Retd.) C V Bhadang, Hon’Ble& Shri B.R. Baskaran: A.Y : 2015-16 : A.Y : 2016-17

For Appellant: Shri Percy Pardiwala with Shri Nitesh Joshi &For Respondent: Shri Salil Mishra – CIT-DR
Section 143(3)

holding company and if the conditions specified in sec.47(iv) and (v) are satisfied, then the “actual cost’ of assets in the hands of transferee company shall be WDV of block of assets in the hands of transferor company as reduced by the amount of depreciation actually allowed in relation ... DCIT (ITA No.1412/Mum/2018 & others dated 14.12.2021) In these cases, the co-ordinate benches have held that the resulting company in case of demerger and transferee company in the case of transfer, are eligible to claim TDS credit, even if the TDS certificates are in the name of demerged company/transferor company

Sony Pictures Networks India Pvt Ltd., Mumbai vs. Asst CIT CC 3 (2), Mumbai

In the result, both the appeals of the assessee are treated as allowed

ITA 7685/MUM/2019[2015-16]Status: DisposedITAT Mumbai02 May 2024AY 2015-16

Bench: Justice (Retd.) C V Bhadang, Hon’Ble& Shri B.R. Baskaran

For Appellant: Shri Percy Pardiwala withFor Respondent: Shri Salil Mishra - CIT-DR
Section 143(3)

holding company and if the conditions specified in sec.47(iv) and (v) are satisfied, then the “actual cost’ of assets in the hands of transferee company shall be WDV of block of assets in the hands of transferor company as reduced by the amount of depreciation actually allowed in relation ... DCIT (ITA No.1412/Mum/2018 & others dated 14.12.2021) In these cases, the co-ordinate benches have held that the resulting company in case of demerger and transferee company in the case of transfer, are eligible to claim TDS credit, even if the TDS certificates are in the name of demerged company/transferor company

Value First Digital Media Pvt Ltd, New Delhi vs. ACIT Circle-26(1), New Delhi

In the result, the appeal filed by the assessee is allowed as

ITA 3210/DEL/2019[2015-16]Status: DisposedITAT Delhi26 Apr 2024AY 2015-16

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

Section 115JSection 143(2)Section 234B

appreciate the fact that Rs 3,78,17,363 added by the Learned AO represents inter-company loan taken from parent entity (i.e., the transferee company) which has been cancelled pursuant to transfer of demerged business undertaking. 3. On the facts and circumstances of the case ... provisions of Companies Act, 2013. The surplus of Rs.3,78,17,363/- represents the amount of excess liability taken over by the transferee company (parent company) which has resulted into the taxable profit in the hands of the Value First Digital Media Pvt. Ltd. vs. ACIT appellant. The appellant

Pushpanjali Medi India (P) Ltd., Kolkata vs. ITO, Ward-2(1), Kolkata.

In the result, both the appeals of the assessee are allowed

ITA 859/KOL/2023[2022-23]Status: DisposedITAT Kolkata22 Apr 2024AY 2022-23

Bench: Shri Manish Borad & Shri Sonjoy Sarma(सम" : "ी मनीष बोरड, लेखा सद"य एवं "ी संजय शमा" "याियक सद"य) Ita Nos.858 & 859/Kol/2023 Assessment Years: 2021-22 & 2022-23 Pushpanjali Medi India Pvt. Income Tax Officer, Ward- Ltd. 2(1), Kolkata. 5Th Floor, Gandhi House, Vs. 16, Ganesh Chandra Avenue, Kolkata-700013. (Pan: Aafcp0049J) (Appellant) (Respondent)

For Appellant: Shri Abhishek Bansal, ARFor Respondent: Shri Subhro Das, Addl. CIT
Section 143(1)Section 154Section 232Section 250

other benefits belonging to the transferor companies from the appointed date onwards, be treated as the credits, claims and tax benefits of the transferee company and accordingly the assessee claimed the credit of TDS to the tune of Rs. 6,12,488/- in its return of income filed ... refunds, credits, claims, incentives or other benefits belonging to the transferor companies from the appointed date shall be treated as belonging to the transferee company. Accordingly, the assessee claimed TDS of Rs. 6,12,488/- in the return of income which originally belonged to the amalgamating entities namely

M/S. Pushpanjali Medi India Private Limited., Kolkata vs. ITO, WD-2(1), Kolkata.

In the result, both the appeals of the assessee are allowed

ITA 858/KOL/2023[2021-22]Status: DisposedITAT Kolkata22 Apr 2024AY 2021-22

Bench: Shri Manish Borad & Shri Sonjoy Sarma(सम" : "ी मनीष बोरड, लेखा सद"य एवं "ी संजय शमा" "याियक सद"य) Ita Nos.858 & 859/Kol/2023 Assessment Years: 2021-22 & 2022-23 Pushpanjali Medi India Pvt. Income Tax Officer, Ward- Ltd. 2(1), Kolkata. 5Th Floor, Gandhi House, Vs. 16, Ganesh Chandra Avenue, Kolkata-700013. (Pan: Aafcp0049J) (Appellant) (Respondent)

For Appellant: Shri Abhishek Bansal, ARFor Respondent: Shri Subhro Das, Addl. CIT
Section 143(1)Section 154Section 232Section 250

other benefits belonging to the transferor companies from the appointed date onwards, be treated as the credits, claims and tax benefits of the transferee company and accordingly the assessee claimed the credit of TDS to the tune of Rs. 6,12,488/- in its return of income filed ... refunds, credits, claims, incentives or other benefits belonging to the transferor companies from the appointed date shall be treated as belonging to the transferee company. Accordingly, the assessee claimed TDS of Rs. 6,12,488/- in the return of income which originally belonged to the amalgamating entities namely

Mr Manish Rajnarain Goswami, Mumbai vs. Assessing Officer, Mumbai

In the result, appeal filed by the assessee is allowed

ITA 3960/MUM/2023[2011-12]Status: DisposedITAT Mumbai19 Apr 2024AY 2011-12

Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Shri Sunil Kumar Singh, Hon'Blemanish Rajnarain Goswami V. Income Tax Officer – 16(1)(3) Aayakar Bhavan, M.K. Road Metropolitan Chsl Mumbai - 400020 B-6 / B-8, Nargisdas Road Pali Hill, Bandra (W) Mumbai - 400050 Pan: Addpg7655D (Appellant) (Respondent) Assessee Represented By : Shri Vijay Mehta Department Represented By : Smt Mahita Nair

Section 143(1)Section 147Section 148Section 68

Manish Rajnarain Goswami Manish Rajnarain Goswamy has also received alleged funds. The details of alleged funds received by the assessee are as given below: - Transferee company / No. F.Y. Amount Shell Company 1 Wheelers Developers 2010-11 1,50,00,000 Pvt., Ltd., 4. In view thereof there is basis

ACIT Circle 1(2)(1), Mumbai vs. M B Patil Construction Limited, Mumbai

ITA 98/MUM/2023[2018-19]Status: DisposedITAT Mumbai16 Apr 2024AY 2018-19
Section 143(3)Section 145(3)Section 40Section 44A

29th Nov. 2018. Hence thereafter All the commercial activities /Dues of M.B. Patil Constructions Limited will be carried on by Patil Construction & Infrastructure LUmited. (Transferee Company). All the correspondence need to be addressed to Patil Construction and Infrastructure Limited only. There are no changes in office address and contact detalls ... 29th Nov. 2018. Hence thereafter All the commercial activities /Dues of M.B. Patil Constructions Limited will be carried on by Patil Construction & Infrastructure Limited. (Transferee Company). All the correspondence need to be addressed to Patil Construction and Infrastructure Limited only. There are no changes in office address and contact details

M/S M.B.Patil Constructions Limited, Mumbai vs. Income Tax Department, National Faceless Assessment Centre, Delhi

ITA 303/MUM/2023[2018-19]Status: DisposedITAT Mumbai16 Apr 2024AY 2018-19
Section 143(3)Section 145(3)Section 40Section 44A

29th Nov. 2018. Hence thereafter All the commercial activities /Dues of M.B. Patil Constructions Limited will be carried on by Patil Construction & Infrastructure LUmited. (Transferee Company). All the correspondence need to be addressed to Patil Construction and Infrastructure Limited only. There are no changes in office address and contact detalls ... 29th Nov. 2018. Hence thereafter All the commercial activities /Dues of M.B. Patil Constructions Limited will be carried on by Patil Construction & Infrastructure Limited. (Transferee Company). All the correspondence need to be addressed to Patil Construction and Infrastructure Limited only. There are no changes in office address and contact details

Simens Healthcase Diagnostics Limited ( Through Successor in Interest Siemens Limited ), Mumbai vs. The Pr. CIT, Vadodara-2, Vadodara

ITA 1442/AHD/2015[2008-09]Status: DisposedITAT Ahmedabad03 Apr 2024AY 2008-09

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. No. 1442/Ahd/2015 ("नधा"रण वष" / Assessment Years : 2008-09) Simens Healthcare The Principal बनाम/ Diagnostics Limited Commissioner Of Income Vs. (Through Successor In Tax Interest Siemens Limited) Vadodara-2 Birla Aurora, Level 21, Plot No. 1080, Dr. Annie Besant Road, Worli, Mumbai - 400030 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacb8542M (Appellant) .. (Respondent) Shri Jet Kamar, A.R. अपीलाथ" ओर से /Appellant By : ""यथ" क" ओर से/Respondent By : Dr. Darsi Suman Ratnam, Cit.Dr Date Of Hearing 14/03/2024 03/04/2024 Date Of Pronouncement O R D E R Per Ms. Madhumita Roy - Jm: The Instant Appeal Filed By The Assessee Is Directed Against The Order Dated 25.03.2015 Passed By The Principal Commissioner Of Income Tax, Vadodara-2 (‘Pcit’), Under Section 263 Of The Income Tax Act, 1961 (Hereinafter Referred As To ‘The Act’), Whereby & Whereunder The Assessment Order Dated 23.10.2012 Passed By The Acit, Circle-4, Baroda (In Short ‘Ao’) Has Been Directed To

For Respondent: Dr. Darsi Suman Ratnam, CIT.DR
Section 143(3)Section 14ASection 263Section 40A

enfolded within the new or the existing transferee entity. The business and the adventure lives on but within a new corporate residence, i.e., the transferee company. Therefore, at this juncture, it is essential to look beyond the mere concept of destruction of corporate entity which brings ... existing transferee entity. In other words, the business and the adventure lives on but within a new corporate residence, i.e., the transferee company. It is, therefore, essential to look beyond the mere concept of destruction of corporate entity which brings to an end or terminates any assessment proceedings. There

DCIT, Ludhiana vs. M/S Religare Technova It Services Ltd., New Delhi

In the result, the ground no

ITA 656/CHANDI/2017[2008-09]Status: DisposedITAT Chandigarh14 Mar 2024AY 2008-09

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

For Appellant: None (Written Submission)For Respondent: Shri Rohit Sharma, CIT DR
Section 143(3)

time it was issued, and at all stages of various proceedings, the parties concerned (i.e., MIPL) treated it to be in respect of the transferee company (MIPL) by virtue of the amalgamation order – and Section 394 (2). Furthermore, it would be anybody’s guess, if any refund were ... decision in Marshall & Sons (supra), which had held that: “an assessment can always be made and is supposed to be made on the Transferee Company taking into account the income of both the Transferor and Transferee Company.” 42. Before concluding, this Court notes and holds that whether corporate death

M/S Healthfore Technologies Ltd., New Delhi vs. DCIT, Ludhiana

In the result, the ground no

ITA 622/CHANDI/2017[2008-09]Status: DisposedITAT Chandigarh14 Mar 2024AY 2008-09

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

For Appellant: None (Written Submission)For Respondent: Shri Rohit Sharma, CIT DR
Section 143(3)

time it was issued, and at all stages of various proceedings, the parties concerned (i.e., MIPL) treated it to be in respect of the transferee company (MIPL) by virtue of the amalgamation order – and Section 394 (2). Furthermore, it would be anybody’s guess, if any refund were ... decision in Marshall & Sons (supra), which had held that: “an assessment can always be made and is supposed to be made on the Transferee Company taking into account the income of both the Transferor and Transferee Company.” 42. Before concluding, this Court notes and holds that whether corporate death

Sara Suppliers Private Limited, Ahmedabad vs. The Asstt. Commissioner of Income Tax, Circle-4(1)(1), Ahmedabad

ITA 432/AHD/2022[2016-17]Status: DisposedITAT Ahmedabad21 Feb 2024AY 2016-17

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकरअपीलसं./Ita No. 432/Ahd/2022 धििाधरणवरध/Asstt. Year: 2016-2017 Sara Suppliers Private Limited, The Asst. Commissioner Of 6, Patel Avenue, Vs. Income Tax, Near Gurudwara S.G Highway, Circle-4(1)(1), Ahmedabad-380054. Ahmedabad.

For Appellant: Shri Tushar Hemani, Sr. Advocate with Shri Parimalsinh B. Parmar, A.RFor Respondent: Shri Sudhendu Das, CIT.D.R
Section 32(1)

book value of assets & liabilities should be recognized as capital reserve. The relevant finding of the AO is summarized as under: 1. The transferee company is a paper company with no worthwhile activities. 2. The transferor company is an established company with revenues and assets. 3. The role ... evident from the scheme of amalgamation. The relevant clause of the scheme of the amalgamation stands as under: 23.1 Upon this Scheme becoming effective, Transferee Company-2 shall without any further application or deed, issue and allot Equity . Shares at par, credited as fully paid up, to the extent indicated

Varian Medical Systems International (India) Private Limited, Mumbaiqqq vs. Assessment Unit NFAC Cetnre ITO, Ministry of Finance Delhi, Delhi

In the result, the appeal of the assessee is partially allowed

ITA 2496/MUM/2022[2018-2019]Status: DisposedITAT Mumbai13 Feb 2024AY 2018-2019

Bench: Shri Narender Kumar Choudhry, Jm & Ms Padmavathy S, Am

For Appellant: Shri Ajit Jain a/w Shri Siddesh
Section 143(1)Section 144CSection 234BSection 234CSection 270ASection 37(1)Section 68Section 92C

books of accounts. Under the pooling of interests method, the assets, liabilities and reserves of the transferor company are recorded by the transferee company at their existing carrying amounts and therefore the difference in the face value between the assessee's shares and VMSS has been recorded under Capital Reserve