Reassessment notice issued in name of amalgamating Co. valid if amalgamated Co. duly acknowledge it: Madras HC

INCOME TAX : Where company HCL was amalgamated with assessee company and reopening notice was issued against assessee in name of HCL on ground that as per ITS Data assessee had not reflected purchase of units of mutual funds in its return of income, since offices of both amalgamating company HCL and assessee were on same premises and, further, assessee had duly acknowledged said reopening notice, same could not be set aside on ground that amalgamating company HCL was not in existence

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