Reassessment proceedings initiated against merged company invalid: Delhi HC

Moonlight Equity (P.) Ltd. Vs Union of India (Delhi High Court) Delhi High Court held that initiation of re-assessment proceedings under section 148 of the Income Tax Act against merged company is invalid as company is dissolved after Scheme of Arrangement. Thus, writ petition is allowed and notice/ order quashed. Facts- The present writ petition impugns the notice dated 27 July 2022 issued under Section 148 of the Income Tax Act, 1961 and pertaining to Assessment Year 2014-15. The challenge, which is principally mounted, is based on our decision in International Hospitals Limited. vs. DCIT Ci...