Erstwhile United Bank of India Vs. The Dy. C.I.T
Case No: ITA No. 2711/DEL/2024
Court: INCOME TAX APPELLATE TRIBUNAL, DELHI ‘E’ BENCH
Date: 3/26/2025
Parties Involved
ApplicantErstwhile United Bank of India (Now Punjab National Bank)
RespondentThe Dy. C.I.T
Facts Summary
The assessee, United Bank of India, filed its original return of income on 30.10.2018 declaring a loss of Rs 1772,41,08,274/-. A revised return was filed on 29.03.2019 declaring a loss of Rs 5031,46,85,463/-. The return was selected for complete scrutiny assessment, and the Assessing Officer passed an order u/s 143(3) on 26.08.2021 assessing the loss at Rs 4993,18,18,621/-. The assessee argued that the assessment was invalid as United Bank of India had amalgamated with Punjab National Bank on 01…
Decision in favour of
Assessee
Legal Issues
- 1. Validity of the assessment order passed in the name of a non-existent entity.
Precedents Relied Upon
18 precedents cited in this judgement.