Assessment on United Bank Post-Amalgamation with PNB Not Sustainable: ITAT Delhi

Advertisement Erstwhile United Bank of India Vs DCIT (ITAT Delhi) ITAT Delhi held that assessment passed on a non-existing entity [i.e. United Bank of India] not sustainable since the same is amalgamated with Punjab National Bank and accordingly, Union Bank of India has lost its existence. Facts- The assessee filed its original return of income on 30.10.2018 under the name of United Bank of India declaring a loss of Rs 1772,41,08,274/-. The assessee filed a revised return on 29.03.2019 declaring a loss of 5031,46,85,463/-. The return of the assessee was selected for complete scrutiny assess...