Corporate non-existence precludes assessment proceedings against a dissolved entity

Adani Wilmar Limited Vs ACIT (Gujarat High Court)

Gujarat High Court ruled in favor of Adani Wilmar Limited in a petition challenging a reassessment notice issued under Section 148 of the Income Tax Act, 1961. The petitioner argued that the notice was issued in the name of Satya Sai Agroils Ltd., a company that had ceased to exist after its amalgamation with Adani Wilmar in 2015. The amalgamation was duly communicated to the tax authorities in 2016 and 2018, yet a notice was issued in March 2021. The court relied on the Supreme Court’s decision in Principal CIT vs. Maruti

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