JUDGMENT :

R. N. Laddha, J.

The petitioner has sought to question the legality of a Notice dated 27 March 2019 issued by the Assessing Officer under Section 148 of the Income Tax Act, 1961 (for short ‘the Act’) seeking to re-open the assessment for the Assessment Year 2012-13. There is also a challenge to the order dated 13 November 2019 passed by the Assistant Commissioner of Income Tax-Respondent No.1 rejecting the objections raised by the petitioner to the validity of the impugned notice.

2. Petitioner is a company registered under the Companies Act, 1956 and is engaged in the business of developing and construction of real estate properties. The National Company Law Tribunal, Mumbai by its order dated 09 January 2018 has sanctioned the Scheme of Arrangement between the Lodha Developers Private Limited and Palava Dwellers Private Limited and their respective shareholders and creditors. By the said Scheme, Palava Dwellers Private Limited was merged with Lodha Developers Private Limited. Subsequently, the name of Lodha Developers Private Limited was changed to Macrotech Developers Limited i.e., the petitioner with effect from 24 May 2019.

3. During the year under consideration, the pe