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2013 (8) TMI 517 - AT - Income TaxValidity of assessment proceedings - Assessment on Amalgamated company - CIT quashed assessment proceeding - Held that:- assessee had amalgamated with another company and assessee had participated in assessment proceedings - Proceedings in this case was initiated by virtue of search and seizure operation - Assessment on a company which has been dissolved and struck off the register of companies u/s 560 of the Companies Act,1956, is invalid, even though the company participated in assessment proceedings- There is no provision in the IT Act to make assessment on a dissolved company-it is not a case of discontinuance of business so as to attract section 176 nor does Section 159 cure the lacuna - Following decision of IMPSAT (Pvt.) Ltd. vs ITO ITAT, Delhi 'A' Bench [2004 (7) TMI 299 - ITAT DELHI-A] - Decided against Revenue.
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