BSC Beacon NOV 23 Newsletter

I. Direct Taxes

A. Corporate Taxes

Background

The Assessee (Diversey India Hygiene Private Limited) was in receipt of several notices issued under Section 148 and Section 142(1) of the Act. These notices were issued to a non-existent entity i.e. Diversey India Private Limited (DIPL). The Assessee argued that DIPL got amalgamated with the Assessee from 1 April 2015 and referred to rulings of PCIT v. Maruti Suzuki India Ltd. [416 ITR 163] and Saraswati Industrial Syndicate Ltd v. CIT [186 ITR 278 (SC)], which held that the notices and assessment orders issued in the name of an amalgamated company that no longer exist are without jurisdiction and legally flawed.