Re-assessment notice issued to merged entity is void-ab-initio: ITAT Mumbai

DCIT Vs Carron Investment Private Limited (ITAT Mumbai) ITAT Mumbai held that notice for re-assessment proceeding under section 148 of the Income Tax Act issued on a non-existing entity i.e. merged entity is void ab initio and hence is liable to be quashed. Facts- M/s Modern Trading Business Ltd. filed its return of income on 30.09.2013, declaring a total income of Rs.3,20,630/-. Subsequently, the return was picked up for scrutiny and vide order dated 30.12.2015 passed u/s. 143(3) of the Act the total income was assessed at Rs.12,87,310/-. Subsequently, pursuant to the order dated 21.07.2017 p...