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2024 (2) TMI 643 - BOMBAY HIGH COURTReopening of assessment against company dissolved - company (since dissolved) had applied for striking off its name under Section 560 of the Companies Act, 1956 because the company was inoperative from two years and there was no feasible opportunity available to carry on its business - HELD THAT:- We would agree with Petitioners that as held in Maruti Suziki India [2019 (7) TMI 1449 - SUPREME COURT] where the Court has also considered Saraswati Industrial Syndicate Ltd. [1990 (9) TMI 1 - SUPREME COURT] once a company is dissolved it ceases to exist in the eyes of law. Though the case of Saraswati (supra) was involving a scheme of amalgamation that would not change the legal position that once a company is dissolved it ceases to exist in the eyes of law. Thereafter, it cannot be treated as a ‘person’ against whom assessment proceeding can be initiated under the Act. The notice issued u/s 148 cannot be a valid notice and consequently, the assessment order passed, which is also impugned in this petition pursuant to the liberty granted by the Court to amend the petition, also has to be quashed.
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