PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) 2 vs M/S MAHAGUN REALTORS (P) LTD

The Supreme Court upheld the decision of the Delhi High Court which affirmed the Income Tax Appellate Tribunal's ruling to quash the assessment order against Mahagun Realtors Pvt. Ltd. The court found that the amalgamation of MRPL with Mahagun India Pvt. Ltd. was valid and that the discrepancies noted during the survey did not warrant the assessment order. The ruling emphasizes the importance of adhering to statutory provisions regarding amalgamation and the treatment of income post-amalgamation.