In case of companies , the merger of the companies are part of business restructuring . The process of merger is such that the total time taken is often quite longer , because of the various inquiries by Regional Director of companies (MCA) and lastly order of approval of scheme of amalgamation by the jurisdictional High Court.It often happens , that either a notice of scrutiny assessment or re-assessment notice is issued in case of companies part of scheme of amalgamation. In fact , often the assessing officer are in dark or even if told about the proposed merger , do not give to much value to such notices by the assessee and continue the proceeding. This post clarifies the legal position of the notices or assessment or any proceeding , subsequent to the approval of the scheme of amalgamation or merger of companies.
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