Assessment Void Ab Initio

The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has quashed an assessment order passed in the name of Syndicate Bank after its amalgamation with Canara Bank. 

The Tribunal held that an assessment framed against a non-existent entity, despite the Assessing Officer being informed of the amalgamation, is void ab initio and cannot be saved by invoking Section 292B of the Income-tax Act.