Pre-liquidation period assessment cannot be completed ex-parte during liquidation period

Brief Facts of the Case

M/s Asian Consolidated Industries Ltd. was engaged in the business of manufacturing of open top sanitary and general line canes. There were two other sister concerns namely M/s Asian Closures Ltd. & M/s Trans Asia Packaging Ltd. The sister concerns M/s Asian Closures Ltd. was amalgamated with M/s Asian Consolidated Industries Ltd. by virtue of an order of the Hon’ble Punjab & Haryana High Court. Thereafter, the effect of the said order was given by the Registra

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