Assessment order against a non-existing entity post amalgamation is invalid

Crisil Ltd Vs ACIT (ITAT Mumbai) Introduction: In the case of Crisil Ltd vs ACIT (ITAT Mumbai), a critical legal issue surrounding the assessment order against a non-existing entity was addressed. The Income-tax Appellate Tribunal (ITAT) held that the assessment order against Pipal Research Analytics and Information Services India Pvt. Ltd., which had merged with CRISIL Limited, was invalid. Analysis: The case centers on the assessment order passed on 22nd May 2017, involving an adjustment of ₹2,70,20,486/- on account of the Arm’s Length Price of international transactions. This was ch...