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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

Kifs International LLP, Ahmedabad vs. National Faceless Assessment Centre, Delhi Presently With ACIT, Central Circle-1(4), Ahmedabad

ITA 684/AHD/2023[2018-19]Status: DisposedITAT Ahmedabad08 Feb 2024AY 2018-19

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. Nos. 682, 683 & 684/Ahd/2023 ("नधा"रण वष" / Assessment Years : 2016-17 To 2018-19) Kifs International Llp Acit बनाम/ B-81, Pariseema Complex, Circle-5(2)(1), Vs. C. G. Road, Ellisbridge, Narayan Chambers Ahmedabad 380006 Building, Ashram Road, Ahmedabad [Presently With Acit, Central Circle 1(4), 3Rd Floor, Aaykar Bhavan, Ashrma Road, Ahmedabad "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaqfk2892L (Appellant) .. (Respondent) Shri Tushar Hemani, Sr. Advocate & Assessee By : Shri Parimalsinh B. Parmar, A.Rs. Revenue By : Shri Ritesh Parmar, Cit. Dr & Shri Rajdeep Singh, Sr.Dr (On 08.11.2023) & Shri Kamlesh Makwana, Cit.Dr (On 30.01.2024) सुनवाई क" तार"ख / Date Of 08/11/2023 & 30.01.2024 Hearing घोषणा क" तार"ख /Date Of 08/02/2024 Pronouncement O R D E R Per Ms. Madhumita Roy - Jm: The Bunch Of Three Appeals Filed By The Assessee Are Directed Against The Common Order Dated 14.08.2023 Passed By Ld. Commissioner Of Income Tax (Appeals)-11, Ahmedabad (In Short ‘Cit(A)’) Arising Out Of The Orders Dated

For Appellant: Shri Parimalsinh B. Parmar, A.RsFor Respondent: Shri Ritesh Parmar, CIT. DR & Shri
Section 143(3)Section 147Section 32Section 32(1)Section 43(6)

Jurisdictional High Court of Gujarat by and under the order dated 21st December, 2015. Pursuant to the said scheme, the transferee company i.e. KIPL consideration determined as per valuation report of expert independent valuer, namely, SSPA & Co., Chartered Accountants, discharged by issuing shares of KIFS International ... Securities the amalgamation was between two well established companies and the share holding pattern has changed after amalgamation. But in the instant case the transferee company was a paper company. 5. In the case of Smifs Securities there was substantial change in the clientele, vendors, profitability, etc. of the resulting

Kifs International LLP, Ahmedabad vs. The ACIT, Circle-5(2)(1) Presently With ACIT, Central Circle-1(4), Ahmedabad

ITA 683/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad08 Feb 2024AY 2017-18

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. Nos. 682, 683 & 684/Ahd/2023 ("नधा"रण वष" / Assessment Years : 2016-17 To 2018-19) Kifs International Llp Acit बनाम/ B-81, Pariseema Complex, Circle-5(2)(1), Vs. C. G. Road, Ellisbridge, Narayan Chambers Ahmedabad 380006 Building, Ashram Road, Ahmedabad [Presently With Acit, Central Circle 1(4), 3Rd Floor, Aaykar Bhavan, Ashrma Road, Ahmedabad "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaqfk2892L (Appellant) .. (Respondent) Shri Tushar Hemani, Sr. Advocate & Assessee By : Shri Parimalsinh B. Parmar, A.Rs. Revenue By : Shri Ritesh Parmar, Cit. Dr & Shri Rajdeep Singh, Sr.Dr (On 08.11.2023) & Shri Kamlesh Makwana, Cit.Dr (On 30.01.2024) सुनवाई क" तार"ख / Date Of 08/11/2023 & 30.01.2024 Hearing घोषणा क" तार"ख /Date Of 08/02/2024 Pronouncement O R D E R Per Ms. Madhumita Roy - Jm: The Bunch Of Three Appeals Filed By The Assessee Are Directed Against The Common Order Dated 14.08.2023 Passed By Ld. Commissioner Of Income Tax (Appeals)-11, Ahmedabad (In Short ‘Cit(A)’) Arising Out Of The Orders Dated

For Appellant: Shri Parimalsinh B. Parmar, A.RsFor Respondent: Shri Ritesh Parmar, CIT. DR & Shri
Section 143(3)Section 147Section 32Section 32(1)Section 43(6)

Jurisdictional High Court of Gujarat by and under the order dated 21st December, 2015. Pursuant to the said scheme, the transferee company i.e. KIPL consideration determined as per valuation report of expert independent valuer, namely, SSPA & Co., Chartered Accountants, discharged by issuing shares of KIFS International ... Securities the amalgamation was between two well established companies and the share holding pattern has changed after amalgamation. But in the instant case the transferee company was a paper company. 5. In the case of Smifs Securities there was substantial change in the clientele, vendors, profitability, etc. of the resulting

Kifs International LLP, Ahmedabad vs. The ACIT, Circle-5(2)(1) Presently With ACIT, Central Circle-1(4), Ahmedabad

ITA 682/AHD/2023[2016-17]Status: DisposedITAT Ahmedabad08 Feb 2024AY 2016-17

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. Nos. 682, 683 & 684/Ahd/2023 ("नधा"रण वष" / Assessment Years : 2016-17 To 2018-19) Kifs International Llp Acit बनाम/ B-81, Pariseema Complex, Circle-5(2)(1), Vs. C. G. Road, Ellisbridge, Narayan Chambers Ahmedabad 380006 Building, Ashram Road, Ahmedabad [Presently With Acit, Central Circle 1(4), 3Rd Floor, Aaykar Bhavan, Ashrma Road, Ahmedabad "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaqfk2892L (Appellant) .. (Respondent) Shri Tushar Hemani, Sr. Advocate & Assessee By : Shri Parimalsinh B. Parmar, A.Rs. Revenue By : Shri Ritesh Parmar, Cit. Dr & Shri Rajdeep Singh, Sr.Dr (On 08.11.2023) & Shri Kamlesh Makwana, Cit.Dr (On 30.01.2024) सुनवाई क" तार"ख / Date Of 08/11/2023 & 30.01.2024 Hearing घोषणा क" तार"ख /Date Of 08/02/2024 Pronouncement O R D E R Per Ms. Madhumita Roy - Jm: The Bunch Of Three Appeals Filed By The Assessee Are Directed Against The Common Order Dated 14.08.2023 Passed By Ld. Commissioner Of Income Tax (Appeals)-11, Ahmedabad (In Short ‘Cit(A)’) Arising Out Of The Orders Dated

For Appellant: Shri Parimalsinh B. Parmar, A.RsFor Respondent: Shri Ritesh Parmar, CIT. DR & Shri
Section 143(3)Section 147Section 32Section 32(1)Section 43(6)

Jurisdictional High Court of Gujarat by and under the order dated 21st December, 2015. Pursuant to the said scheme, the transferee company i.e. KIPL consideration determined as per valuation report of expert independent valuer, namely, SSPA & Co., Chartered Accountants, discharged by issuing shares of KIFS International ... Securities the amalgamation was between two well established companies and the share holding pattern has changed after amalgamation. But in the instant case the transferee company was a paper company. 5. In the case of Smifs Securities there was substantial change in the clientele, vendors, profitability, etc. of the resulting