Penalty Order in Name of erstwhile Dissolved Company is invalid

V3S Infratech Ltd. Vs DCIT (ITAT Delhi) The issue under consideration is whether issuance of penalty order in the name of erstwhile dissolved company is justified in law? ITAT states that, in the present case, despite the fact that the assessing officer was informed of the amalgamating company having ceased to exist as a result of the approved scheme of amalgamation, the jurisdictional notice was issued only in its name. The basis on which jurisdiction was invoked was fundamentally at odds with the legal principle that the amalgamating entity ceases to exist upon the approved scheme of amalgam...