Thermax Limited Successor To Former ... vs National Faceless Assessment Centre
Judges (2)
Case Significance
Thermax Limited Successor To Former ... vs National Faceless Assessment Centre is a Bombay High Court decision dated November 27, 2024 (citation: ik-191684069). Thermax Limited challenged reassessment proceedings under Section 148 of the IT Act for AY 2018-19 and 2019-20, where notices were issued to the erstwhile entity Thermax Babcock and Wilcox Limited which had been amalgamated with Thermax effective 1 April 2005. The Court held that reassessment proceedings initiated against a non-existent entity after a court-ordered amalgamation were wholly without jurisdiction, non-est and a nullity, following the Supreme Court's decision in Mahagun Realtors. The bench comprised Justices Advait M. Sethna and G.S. Kulkarni. The judgment was delivered by Justice G.S. Kulkarni.
Summary
Thermax Limited challenged reassessment proceedings under Section 148 of the IT Act for AY 2018-19 and 2019-20, where notices were issued to the erstwhile entity Thermax Babcock and Wilcox Limited which had been amalgamated with Thermax effective 1 April 2005. The Court held that reassessment proceedings initiated against a non-existent entity after a court-ordered amalgamation were wholly without jurisdiction, non-est and a nullity, following the Supreme Court's decision in Mahagun Realtors. The petitions were allowed and all notices, assessment orders, and penalty notices were quashed.
What was the outcome of Thermax Limited Successor To Former ... vs National Faceless Assessment Centre?
Thermax Limited challenged reassessment proceedings under Section 148 of the IT Act for AY 2018-19 and 2019-20, where notices were issued to the erstwhile entity Thermax Babcock and Wilcox Limited whi...
Judgment
Read the full judgment on the official India Courts portal.
Read on Indian KanoonSource: Indian Kanoon (ik-191684069)