Merger Does Not Bar Income Tax Reassessment Notice: MP HC

Nivedan Commerce Pvt. Ltd Vs Income Tax Central Circle 1 And Others (Madhya Pradesh High Court) Amalgamation No Shield for Escaped Income – ₹11.64 Crore Transactions Surface – HC Says Notices to Amalgamating Company Valid; Merger Cannot Wipe Out Tax Liability – MP High Court Upholds Validity of Reassessment Notice u/s 148 The Madhya Pradesh High Court, Indore Bench, dismissed a writ petition challenging reassessment proceedings initiated u/s 148A & 148. The Court held that merger of a company cannot erase its tax liability when substantial financial transactions remain unexamined...